The beer pong guy was only trying to raise $10,000 and had one employee. Trying to raise millions requires finding investment banks with rich clients who will subscribe to your initial offering. If a firm wants to raise millions in an IPO (and you aren't Google), you have to hire one or several investment banks to shop your shares around. They charge huge fees, typically a percentage of the total offering.
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The beer pong guy was only trying to raise $10,000 and had one employee. Trying to raise millions requires finding investment banks with rich clients who will subscribe to your initial offering. If a firm wants to raise millions in an IPO (and you aren't Google), you have to hire one or several investment banks to shop your shares around. They charge huge fees, typically a percentage of the total offering.
Thank you for clarifying and educating me.