"A new generation of companies, including startups such as Rent the Runway Inc., Chobani LLC, Warby Parker Inc. and Allbirds Inc., are on tap to go public this fall, people familiar with the matter say. They will be doing it with this message: It isn't just about the money. It is also about the mission.
In regulatory filings, companies are referring to themselves as "mission-driven," counting the environment among stakeholders, highlighting their commitments to charity and touting their sustainable methods. It is partly a shift in corporate -- and employee -- values, and partly virtue signaling.
"Thirty years ago, the goal of a company was to serve shareholders. That's evolved," said John Chirico, co-head of North American banking, capital markets and advisory at Citigroup Inc. "Everyone is trying to be mission-driven these days. Some companies are founded on that mission. Others have come around to it, and others are not as authentic."
It is no coincidence many of the companies publicizing their noble ways are consumer-facing and competing for talent, some lawyers and bankers say.
"It's the wave of the future," said Ken Wallach, co-head of the global capital-markets practice at Simpson Thacher & Bartlett LLP. "It's everything from raising capital from like-minded investors to competition for millennial talent." [1]
Such a concern did not come to Lithuania. What generation of the millennium? All owners of Lithuanian companies - beavers - have such a secret pipe that allows untreated waste to enter our clean waters. It’s cheaper that way, and at the same time it is possible to pretend being an important person in front of their wife when bathing: pay attention, here the water from my factory stinks. And people still say that profits don’t smell. They smell, oh how they smell ...
1. Companies Cite Missions, Changing Tone of IPOs
Driebusch, Corrie. Wall Street Journal, Eastern edition; New York, N.Y. [New York, N.Y]. 09 Sep 2021: B.1.
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