ZG - Zillow co-founder makes the case for SPACs vs. IPOs

"When we took Zillow ([[Z]], [[ZG]]) public in 2011 it was a great day, but also a facepalm moment," says Spencer Rascoff.The IPO priced at $20, but shares spiked to $60 in early trades. What should have been a day for champagne and high fives, says Rascoff, was instead bothersome as employees and early investors got penalized by the broken IPO process.He notes the typical tech IPO trades up by 43% a day after coming public.Rascoff: "SPACs remedy many of the problems with IPOs and offer new benefits like the ability for a company to provide financial projections at the time of the SPAC IPO."With a massive wave of SPACs emerging, Rascoff does acknowledge that not all are created equal, with some being "Wall Street-heavy," and some being led by Silicon Valley founders. Very few, says Roscoff, combine both.Rascoff's own SPAC, Supernova ([[SPNV]], [[SPNVU]]) opened for trade last week. "A

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Zillow co-founder makes the case for SPACs vs. IPOs