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> is that for IPOs, only?

IPOs were "hurt" by Sarbanes Oxley, the reaction to Enron. (No, there's nothing in it that would have affected Enron.)

> If it's for raising seed money or anything up through a series C, I'd disagree, very strongly in the case of earlier rounds. The article doesn't tell us which it is, though.

While that article may not have provided every piece of information that you'd like, Google is your friend. Above I quoted the relevant section AND provided a link.



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