Now, I received this email recently (bolding is mine):
I don't believe in investing in individual stocks. If I could predict which stocks would do better than others I wouldn't be on BH and instead I'd be a gazillionaire. But I am interested in educating myself.At Doximity, we believe technology should work for physicians, not the other way around. Your success and productivity are our mission and life's work.
You are part of a select group of Doximity members receiving this email. As you may know, Doximity has taken steps towards becoming a publicly-traded company. We're excited to announce that as part of our proposed IPO, we plan to offer a Reserved Share Program (also known as "Friends and Family" shares, or a Directed Share Program) to our most active physician members, including you.
With this program, we plan to reserve a portion of Doximity's IPO shares for eligible Doximity members to purchase at the initial public offering price at the time of our proposed IPO. Eligibility is limited to U.S. physicians who are verified members of Doximity and users of the mobile app, prioritized by:
having a photo in their Doximity profile
number of mobile app days active in the last quarter
This program will be administered by a third-party Program Administrator, Fidelity Investments ("Fidelity"), and not by Doximity. In the coming days, Fidelity will send an email with more information directly to the eligible Doximity members who have pre-registered in accordance with this email, regarding how to create or link a Fidelity account to participate.
Participation is capped at approximately $5,000 per eligible Doximity member and may adjust based on participation levels. We've provided more information about the eligibility criteria, restrictions, legal information, and what this process will look like in our FAQs here.
In addition, I'm very much worried that thousands of physicians received the same email
-- Is it typical for companies to solicit small-dollar amounts? Does this suggest that the "big money" is not interested?
-- Could this be more of a marketing campaign than any true attempt to solicit funds for an IPO? I suppose there is no real distinction, in that the final pathway is simply to increase the money that Doximity receives, by whatever means necessary.
-- I'll admit a lack of both experience and knowledge in pre-IPO companies and solicitations. Given that this $5000 "reservation" does not come with an obligation, is there any way possible this some sort of special opportunity? I suspect not. Once the IPO price is set, who the heck knows whether that IPO share price is a good deal or not? Doesn't it simply come down to any other decision about any particular company at any particular price?
-- btw, here is a link to an FAQ page they sent me in the email: https://www.doximity.com/dsp_program/fa ... ximity-eda