Maybe smaller companies just don't need to go public as early as before because they are able to get funding through private investors. Also, if they show pote

Maybe smaller companies just don't need to go public as early as before because they are able to get funding through private investors. Also, if they show potential, they might just us easily get bought out. There are two ways to look at this. The article paints a negative light on these statistics. But as a small firm, it would be nicer and less troublesome to just get funding through private firms than having to jump through hoops of going to the exchange. It might be more efficient.