Imagine your favorite sports team being forced to hand over its playbook to a bitter rival. That would irk any sports fan.
Competitive mobile game maker Skillz will do a quick IPO at $3.5 billion valuation
Skillz is going public this fall on the New York Stock Exchange through a special public acquisition company (SPAC). This has become a popular way for fast-moving companies to go public without all the hassle of a traditional IPO. SPACs are set up by managers who raise money in a blind shell company, and the investors don’t know what they’re putting their money into.