Well, the IPO was "inspired" by BitBay... you should look in the BAY thread what's going on.
BAY turns out to be a SCAM... yeah ! One more scam, one !
The coin is now 63 sat and it's going straight to zero...
Total failure.
BitBay is not a scam, there has just been some major FUD brought on by people. The coin still has plans, a dev team, and a future.
As far as I know, one of their developers either quit or was fired and brought a shit storm of FUD on.