One of the main drivers IMHO, and not mentioned in the article, is quantitative easing or the ZIRP.
Money is cheap and easily available (to select few) which has helped players in private equity to borrow and spend. Consequence of this is that companies can stay private longer as there is more capital available in private funding rounds.
Take for example the case of Uber which has managed to raise $21.7B [0], something that in past would have only resulted from an IPO.
Money is cheap and easily available (to select few) which has helped players in private equity to borrow and spend. Consequence of this is that companies can stay private longer as there is more capital available in private funding rounds.
Take for example the case of Uber which has managed to raise $21.7B [0], something that in past would have only resulted from an IPO.
[0] https://www.crunchbase.com/search/funding_rounds/field/organ...
_Edit_
Was off by an order of magnitude on the amount Uber raised.