IEO started gaining a lot of consideration late last year this is because people believe it might protect the investors from the ICO scam that is very rampant. However, Some exchange platform such as Latoken have abused this believe. They see it as medium to make money to sustain their platform by listing so many useless project on their IEO
They just give those projects the opportunity to enter the market and introduce themselves to their investor community. Undoubtedly, that's an important stage for projects