Social Capital to help startups with alternate go-public routes
August 25, 2017
Palo Alto, CA | Venture Capital
Social Capital has created a shell company called Hedosophia meant to help startups go public without working with bankers or going through the formal IPO process. The traditional process for tech startups to go public has "acted as a driving force to deter private company management teams and their pre-IPO stakeholders from pursuing IPOs," the firm claims in an SEC filing. The holding company is raising $500 million to launch the business unit.