I echo this sentiment lol, in general, why would you? I think it's pretty barbell shaped. Either you're going public in the sub-20B range, or you wait until you hit $1T+ like Aramco. That's not to say there won't be folks in the middle. But why go through the reporting requirements if you have no trouble raising capital, and only have to answer to a small group of smart money? May as well just buy back shares from your employees at secondary.
I know there's certain pressures - like the 7 year clock on RSUs, and there's still a cap on outside investors right?
