Ten years ago, venture capital and private equity were not yet mainstream, and companies usually had only one way to grow — go public. Times have changed, but is this still the optimal choice?

Back then, an IPO was a mark of success. Funding amount, funding cycle, market recognition — it seemed that going public could solve all these issues in one go. But now the situation has changed. The involvement of VC and PE capital has rewritten the rules of the game, and more and more entrepreneurs find that with more financing channels, going public is no longer urgent.

That said, the advantages of going public haven't disappeared. Direct fundraising scale, brand premium, employee incentives — these are still unique benefits. The question is whether this route is worth taking, which depends on your business nature and stage. Some companies should indeed IPO, while others might find more flexible ways to survive during the private placement stage.

So the answer isn't that simple. But one thing is certain: the options are much broader than ten years ago.