The New York Stock Exchange buys Radiate, a company that creates short videos of career advice from business leaders, to bolster its services in the arms race for company listings on the world’s largest stock market.
Betty Liu, who founded Radiate and worked as a business reporter for outlets such as Bloomberg Television and the Financial Times, will join NYSE as executive vice president effective July 9 and serve on the board of directors of the NYSE group.
âWe have 2,400 listed companies and we want to create a bigger community for them,â Ms. Liu told the FT, saying Radiate’s short leadership videos and live events would help make a listing. NYSE “more than just a business relationship”. for existing members and potential candidates for the initial public offering.
Her appointment comes just weeks after the Intercontinental Exchange, NYSE’s parent company, named Stacey Cunningham as the first female executive in the 226-year history of the New York Stock Exchange. The NYSE and the Nasdaq are engaged in a battle for company listings that involves not only intense IPO blitzes, but efforts to persuade companies to quit rival stock exchanges.
Over time, the Nasdaq wins more deals, but the Big Board attracts larger ads. So far this year, 55 companies raising $ 12.3 billion have been listed on the Nasdaq while 29 companies raising $ 15.7 billion have opted for the NYSE.
Following the dotcom boom of the 1990s and early 2000s, NYSE shifted its standards and targeted more tech ads, winning high-profile deals in recent years, like App owner Snap. Snapchat messenger and Spotify music streaming service.
NYSE did not disclose the financial terms of the deal, but said the transaction would not affect ICE’s 2018 results or capital return plans.
Radiate, which has just three full-time employees and about 20 freelancers, has created a library of concise video lessons from CEOs on leadership and management challenges, ranging from how to hire the right people to how to lay off the less efficient. Lessons on time management and how business leaders deal with emails were among her most popular videos, Ms. Liu said.
âWe are eager to rely on Radiate, the innovative company [Ms Liu] founded, as part of our efforts to enrich the NYSE network and the experience of our listed issuers and the broader business community, âsaid Jeff Sprecher, President and CEO of ICE.
Ms. Cunningham said Ms. Liu “would help us provide our clients with even more opportunities to leverage the NYSE network to connect and share ideas on our global stage.”