Operators said

Fundraising & investors

Rory O'Driscoll warns that picking IPO bankers who pitch the highest price can backfire when real investor demand comes in lower. Listen

Building on Dev Ittycheria's view that price likely sank Oura's IPO, Rory O'Driscoll said bankers tell you what you want to hear while competing for the mandate, then investors offer less. Choosing the banker with the highest number risks telegraphing a deal that then fails, which he called a far worse situation. Harry Stebbings argued Oura should have accepted the lower price and listed.

“will you just go for the person who says you're going to get the highest price but if he's whispering bullshit in your ear and it turns out not to be true then you end up in this far worse situation”

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