IPO Is Not a Liquidity Event, It's a Credibility Test - Sam Van | Seth Farbman's Podcast

Most founders think going public is a liquidity event, but Sam Van says it's a credibility test. In this episode of Startup to Stock Exchange, Seth Farbman sits down with Sam Van, founding partner at SRO Partners and a former 11 year veteran of the New York Stock Exchange, to unpack why the IPO itself is rarely what sinks a company. It's the 12 months after. Sam shares what he's learned advising companies through the full lifecycle of going public, from 25 to 30 months before the bell rings to the critical first year of trading, including why going public today is less a liquidity event and more a credibility test, what actually separates companies that survive their first year public from those that don't, and how his own journey from NYSE regulator to founder of SRO Partners was born by accident out of client relationships. He also opens up about SRO's deep ties to Asian capital markets, his personal connection to Vietnam, and his role brokering the NYSE-Ho Chi Minh Stock Exchange relationship. In this episode, you'll learn: - Why most companies don't fail at the IPO. They fail 12 months later - Why going public is a credibility test, not a liquidity event - What it really costs to run a public company (and why capital disappears faster than founders expect) - How Sam evaluates whether a company is ready to go public, 25-30 months out - Why SRO Partners was founded by accident, and what the name actually stands for - How Sam built a career bridging Asian markets and US capital, from Singapore to Vietnam - What founders need to understand about credibility, buy-in, and due diligence before they ever consider the public markets Whether you're a founder, investor, CEO, or simply interested in the journey from startup to public company, this episode offers insights into IPO readiness, capital markets, post-IPO survival, and what it really takes to build a company that lasts beyond the opening bell. 🔔 Subscribe for more conversations with founders and CEOs building the next generation of public companies. Connect with Seth LinkedIn – https://www.linkedin.com/in/sethfarbman/ Instagram – https://www.instagram.com/sethfarbmanstock TikTok – https://www.tiktok.com/@sethfarbman Twitter (X) – https://x.com/sethfarbman1