Like Credit Karma, there’s no incentive to IPO if they have all the capital they need at this point.
Do they have all the capital they need? They lost almost a billion dollars so far this year.
I don’t know their balance sheet since it isn’t public, but they seem to have no trouble raising capital privately. Since early investors can sell shares as a secondary capital component of these raises, I don’t see any incentive to IPO. Just my opinion. I don’t have any special knowledge of their finances.
They have already halved the predicted ipo value to 20B .."if they ipo" . Their real value is around 5-6B based on the 3x the revenue at best. And IPO'ing at 5-6B doesn't make sense, so I think they will not attempt to do that mistake. There is nothing concrete that justifies even their 20B valuation.
They have raised more money than they are worth 😂
Its more like a market manipulation, pump and dump scheme.