Unfortunately, it appears that many startups have gotten their valuation ahead of their economics, so IPOing isn't an easy option for them because it would be a

Unfortunately, it appears that many startups have gotten their valuation ahead of their economics, so IPOing isn't an easy option for them because it would be a large down round. IIRC, most of the large tech ipos in the last year went public below their final private valuations. Though to be fair, the last investors often got ratchets. This is a good read too http://thomasgr.tumblr.com/post/135710601255/the-pre-ipo-dip-the-opposite-of-the-burst-of http://thomasgr.tumblr.com/post/135710601255/the-pre-ipo-dip...