IPO Silly Season Returning?: "Company is less than a year old? Check. Company has almost no revenue? Check. Company is in a highly competitive space with little to no differentiation? Check. Company has huge losses over its short life span? Check. Company is almost totally dependent on one supplier who could cut off its revenue supply easily? Check." —Techdirt
Underwriters made off with millions? Check. Buyers on the open market all consisted of underwriters' clients? Check.