# Initial Public Offering A "liquidity event". - Pros - Access to capital - Liquidity for Founders and Investors - Brand visibility and credibility - Employee incentives - Cons - Regulatory - Lock-up period. ## Lockup Period - [What's an IPO Lockup? | Investopedia](https://www.investopedia.com/terms/i/ipolockup.asp) - Typically 6 months. - Company insiders, early investors, and employees cannot sell their shares for a period after the IPO.