An IPO, or Initial Public Offering, is when a private company offers its shares to the public for the first time by listing on a stock exchange. This process allows the company to raise capital from a wide pool of investors, increase its visibility, and provide liquidity for early stakeholders. IPOs are significant financial events and are closely watched by investors, regulators, and the public. Security incidents or breaches around the time of an IPO can impact investor confidence and the company's valuation.