Zillow’s 2011 IPO should have been a day for popping champagne and plenty of high-fives. Instead, employees and investors experienced a “facepalm moment” when the stock price shot up 200 percent within minutes of trading, according to former CEO Spencer Rascoff. “I was bothered by that spike for years to come,” Rascoff tweeted Monday, as he touted the benefits of an investing tool that’s recently gained popularity on Wall Street: the SPAC. Special-purpose acquisition companies
source https://therealdeal.com/2020/10/27/spencer-rascoff-says-zillow-ipo-was-facepalm-moment/
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