Terminology of IPO discussion:

@Teehe is my take on your offering1 (regarding the question of "IPOing" before a product has been released) a fair assessment in your team's opinion?

I see Teehe's fundraising as similar to—but not exactly like[1]—an angel or Series A round, rather than a traditional IPO. The primary difference from a traditional venture in this case would that rather than seek that funding from an isolated set of VCs, they've solicited interest from the larger cryptocurrency community.

An "IPO" usually is offered after a product has been released and a proper evaluation of its fundamentals can be made.

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[1] That they are using Peershares to generate the DAO's shares mean that they are offering a different type of equity than a "typical" convertable note to exchange preferred to common stock in the future.


Response:
@Ben yes this is a fair assessment.

In this regard, we discussed labeling our venture as an IPO, Series Seed Funding, and Crowdfunding. IPO was chosen as it is more familiar to the laymen rather than the financial lingo of Series Seed Funding. IPO may not be the best description of the venture, but it is more simplistic.

The most accurate description of the Teehe plan is as follows. The first round of funding is not an “IPO” but rather a Series Seed Funding. This will allow the platform to be developed upon which a Series A Funding will occur. Shares are reserved for a Series B Funding to allow for expansion and scalability.


Source: https://discuss.nubits.com/t/ipo-teehe-dao-sports-book-and-casino-based-on-peershares/1734/74?u=teehe