The Dutch auction wasn't all that smooth, with Google having to adjust prices at the last minute. Most results show that it didn't really produce all that much of a benefit over a traditional IPO, where (the issuing company) at least gets a guaranteed minimum amount of money to raise. Pretty much the only alternative is a direct listing for companies that want to go public, but don't need to raise money. (Well, there's also SPACs, but that's a different beast).