To clarify, reporting requirements for private companies are minimal below a certain level of revenue. Once that level is passed, they need to file. Google wit

To clarify, reporting requirements for private companies are minimal below a certain level of revenue. Once that level is passed, they need to file. Google withheld how well its advertising was doing until that threshold was crossed, and it was a surprise to many how much money it was making. This was before its IPO in 2004.