One way or another, that shouldn't be that big a deal. The company doesn't necessarily raise that much on IPO day. The importance of raising that sum at a 20%

One way or another, that shouldn't be that big a deal. The company doesn't necessarily raise that much on IPO day. The importance of raising that sum at a 20% higher/lower valuation probably isn't the biggest thing at stake. The IPO isn't primarily fund raising, especially for this current crop of more mature unicorns. It's primarily liquidity generating.