IPO stands for "Initial Public Offering". It is the process by which a private company transitions to public ownership by offering shares of the company to the public for the first time. This allows the company to raise equity capital from public investors. The IPO process is complex and highly regulated, requiring support from specialists such as accountants and lawyers. During the IPO process, the company works with a team of professional service providers to audit the companys financial statements, prepare them for regulatory review, set the companys processes and procedures on a path consistent with the requirements of a public company, prepare a prospectus, and work with regulators and public market exchanges to get the companys listing approved. The newly issued shares begin trading on a stock exchange such as the New York Stock Exchange or the Nasdaq.