Comment by stoatmagoats

Casual Finance did a video on this recently. He explains that prior to 2012 there was a rule that private companies would need to start reporting their financials once they reach the threshold of 500 investors. Because of this they would usually just choose to go public at that point. But since the rule was removed, companies are waiting longer because they don’t have that forcing function anymore. Also, the rich have never been richer so the private money is abundant anyways so there isn’t really a need to go public until you’ve reached the highest valuation you think you can ever get.