So much confusion. So little time to dispel it
Not following the “jobs and growth” movement? You may have missed a newfangled way start-ups can start the process of raising money from the public — and create jobs and economic growth—with less regulation and much less paperwork. On April 5 of last year, the Jumpstart Our Business Startups Act (JOBS Act or Act) became law in the U.S. Don’t let the rah-rah of the law’s title fool you. This law is all about making it much easier for private companies to access public capital with less muss, less fuss. The law also provides relief to certain companies, emerging growth company or EGCs, so they can go public on U.S. exchanges without providing as much information to investors as early in the process as they used to.
“It shouldn’t be called the JOBS Act, it should be called the Bring Fraud Back to Wall Street Act.”
EY is the global public accounting firm of choice to emerging social networking/social gaming companies such as Groupon, Zynga, and Facebook as well as veteran technology and media companies such as Google, HP, News Corp, and Oracle.
Twitter’s auditor is probably EY, given EY’s market dominance in the Silicon Valley emerging growth tech environment and EY’s deep “experience” with Facebook, Groupon, and Zynga. Twitter did not reply to a request for auditor information, and CEO Dick Costolo did not reply to my open request via Twitter.
A recent EY survey says U.S. investors believe the main benefits of the JOBS Act are those “that affect the offering process (e.g., allowing immediate analyst coverage after an IPO, giving companies the ability to test the waters with certain investors) rather than those related to disclosure and compliance relief for emerging growth companies (e.g., deferral of auditor attestation on internal control, reduced financial reporting periods).”
Read more – > https://medium.com/by-the-numbers/97f1439086c8
- Does Obama’s JOBS Act Help These IPOs? (inc.com)
- How the JOBS Act Boosted the IPO Market (Infographic) (entrepreneur.com)
- How the JOBS Act Helped Twitter’s IPO (and 200 Others) (article-3.com)
- Does the JOBS Act Help These IPOs? (jeremiahtillman.wordpress.com)
- Beyond Twitter: The next wave of tech IPOs brews (nwitimes.com)
- Zynga Takes Out the Competition with an Acquisition (digitalsurgeons.com)
- Crowdfunding – not just for early stage (thehartford.com)
- Beyond Twitter: The next wave of tech IPOs brews (kansascity.com)
- Wall Street could be awash in another wave of Internet IPOs after Twitter’s big splash (canadianbusiness.com)
- Andy Kessler: Private Startups, Where Investor Dollars Often Go to Die (online.wsj.com)