What do you think are the advantages of doing an IEO vs simply listing a token in a exchange?
Through IEO you don't need to spend your effort to see the token is being traded because when the pre sale is done the token will be traded on the exchange.
But, when you have a project you need a lot of effort. Like you have to convince the investor that the project will be successful and the token will be traded on the exchange. After that, you have to ask to some exchange to list your project and being traded there and you may need to spend money in it.
Listing in a reputable exchange definitely needs a good amount of money. But if the team will manage to hold IEO, I believe there will be some arrangement with the exchange on whatever amount they will raise during this sale. So there's advantage of IEO, aside from raising funds, the listing to that exchange is already secured.