In case you were unplugged this week… former Portland startup now Vancouver, Washington, biotech company Absci went public, this week. Having been on an IPO team for a venture funded startup myself, I can attest to what a herculean effort this whole process entails. And how the Absci team deserves all of the accolades for pulling this off.
As with any IPO, this event comes with the realization of the infrequent “liquidity event” for investors — and more importantly, often a wealth creation event for employees at the organization. So there have been any number of pontifications about the amount that will be returned to the community, as a whole.
Here’s another take on that potential impact:
[Full disclosure: I am a shareholder in Absci thanks to applications that allow you to purchase fractions of a share.]