The management teams and bankers involved in the recent deals told us that the buyside players are changing. Many of the hedge funds and fast money players are gone, heralding a return of the long-term investor. This is important for the newly public company because it gives them the ability to create a better shareholder base aligned with their strategic objectives.
And this is in line with markets as a positive force:
My last point is something we often forget to think about. The IPO is an important job engine for our economy. These two companies employ about 2,000 employees. Bridgepoint didn't exist five years ago. Rosetta Stone had 10mm in revenue five years ago. Both companies create jobs, provide for families and create wealth.
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