[adventured]

> no. it is the company selling their stock to the public for the first time, to raise cash.

That's incorrect. The company is not raising cash with this IPO. The insiders are doing the IPO to sell, which should tell you what's actually going on. By direct listing, they avoid the traditional lock-up, so they can liquidate immediately.

[sigstoat]

> The company is not raising cash with this IPO.

...there isn't an IPO, which is the whole point of the article, and these comment threads.

i think in the context of the comment i was replying to, it was fairly clear i was explaining what an IPO is normally for.

[tempestn]

The comment you're replying to is describing a regular IPO, and is not incorrect. The direct listing process is not a type of IPO; it's skipping the IPO.