The Nasdaq stock market, which has a reputation for attracting up-and-coming startups going public, is getting a run for its money from its rival, the New York Stock Exchange. Although the NYSE is often associated with more established, blue chip companies, more tech companies have gone public on the NYSE than Nasdaq this year, Marketwatch reports, including Trulia and Shutterstock. The NYSE has also attracted tech darlings like Pandora, LinkedIn and Yelp.
Why? The obvious answer is that Nasdaq has been blamed for Facebook’s shaky initial public offering last year. But the NYSE has actually been challenging Nasdaq as the venue for tech IPOs since 2007, beating Nasdaq four out of the last seven years, Marketwatch’s Christina Rexrode reports.
The NYSE has invested in technology, hired a new CEO, and most importantly, perhaps, loosened listing requirements to become friendlier to tech startups: The NYSE no longer requires a minimum of two years of profitability prior to an IPO. Source: marketwatch.com