Why Doesn't Stripe, Valued at $160 Billion, Go Public?
Stripe, valued at $159 billion, and Plaid, valued at $8 billion, recently conducted tender offers, reflecting a structural shift in how companies access capital and provide liquidity. Instead of pursuing traditional IPOs, many high-value private companies are opting for secondary transactions. This trend is fueled by a booming private market, where assets have more than doubled to $22 trillion over 12 years, and companies now wait an average of 16 years to go public. New infrastructure layers like Forge and EquityZen facilitate these trades, while platforms like Robinhood’s Ventures Fund I are opening private market access to retail investors. However, risks include structural complexity, valuation opacity, and regulatory challenges. Despite a 2025 rebound in IPOs, many companies may continue favoring private liquidity due to abundant capital and fewer constraints.
marsbitHace 7 min(s)
