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'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

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Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

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The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow

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'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

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Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

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The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
Finance

Sorry, but Buzzfeed and Snapchat IPO plans are not news

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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May 28, 2015, 11:49 AM ET
BuzzFeed CEO Jonah Peretti talks with Fortune senior writer Jessi Hempel at Fortune Brainstorm Tech in Aspen, Colorado.
BuzzFeed CEO Jonah Peretti talks with Fortune senior writer Jessi Hempel at Fortune Brainstorm Tech in Aspen, Colorado.Kevin Moloney/Fortune Brainstorm TECH
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On Tuesday, Snapchat CEO Evan Spiegel said at the Code Conference that “we need to IPO.” It generated all sorts of headlines.

One day later, from the same conference stage, Buzzfeed CEO Jonah Peretti said that he was working on product diversification efforts that would “allow us to be a public company.” Once again, all sorts of headlines.

I understand why some might think Spiegel and Peretti’s statements were important, or at least decent click-bait. The reality, however, is that there is no “news” in learning that the CEOs of well-funded private companies plan to someday take their companies public. That’s part of the job description, and certainly the expectation of those venture capitalists who invested tens or hundreds of millions of dollars into these companies.

 

To be sure, Spiegel or Peretti could have made IPO-related news at Code Conference. They could have said when they plan to go public, or if they’ve begun picking bankers. Or, even more noteworthy, that they would prefer that their companies ultimately be acquired.

But they didn’t. They simply acknowledged the obvious. Not exactly headline-worthy…

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