It came Into existence because investors stopped investing their money in easy money grab or which known as ICOs So now money suckers and greedy exchanges come up with new attractive method they name it IEO to raise fund from investors in easy way so its win win for both exchanges and projects starter or Devs , exchange win more trading fees and take % from IEO fund and Dev win easy money and after token get listed price dump 90% then investors come here in forum open thread and start cursing and whining for their losses.