Square (SQ) IPO Pricing: Success Despite Below-Range Offering

Jason Lemkin analyzes Square's IPO pricing, which came in below the expected range at $9 per share but still achieved a 45% first-day pop, qualifying it as a success. He argues that while the IPO pricing itself is a minor event in the long-term trajectory of a company, the first-day performance matters more than the initial offering price. Lemkin contextualizes this by noting that many successful companies like Google and Facebook had weak IPO performances that proved inconsequential to their ultimate success.