One of the company's new investors stated, "I think IPO is obviously the next milestone for the company, but we don't yet know when." This thought underscores the growing problem in venture of highly valued companies staying private longer while taking on more investment, especially without turning a profit. These "private IPO" rounds are putting investors in a bind, as each new financing potentially pushes the exit window further into the future. With the M&A market looking pretty dismal as of late and IPOs becoming more scarce, there just doesn't look to be many exit opportunities for these unicorns and their investors to realize a return above their current, or future, private valuation.
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