Please ELI5 the concept of IPOs and what are the effects of this...

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https://www.reddit.com/r/explainlikeimfive/comments/1mptv0/please_eli5_the_concept_of_ipos_and_what_are_the/

Please ELI5 the concept of IPOs and what are the effects of this IPO to companies that did not previously have this.

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