The success of IEO depends not only on listing in Big exchange but also type of project, team performance etc. It is to confece that listing IEO on top exchanges like Binance, OkEx will put huge positive impact on token sale rather than listing on vindax, p2pb2b, hotbit etc. Such low quality exchanges listing IEO will put negative impact and lackage of investors. Ultimately ieo results will be poor.
More important than an exchange for an IEO is the hype that it has created in the community, if there is a lot of hype around the project and even if it is being sold on a bad exchange then also the investors can earn tons of profit by selling the token as after a small amount of time the coin will most probably be picked by a big exchange like binance, OkEx etc. Also I don't deny the fact that actually exchanges are the part of a listing that makes a reputation of the token being listed, if exchange is good then token will definitely see a lot of investors.