Altogether, just five companies with billion-dollar-plus valuations have gone public this year. They include Box (in January), Shopify (May), Pure Storage (October), Square (November), and Atlassian (December) as seen here on the CrunchBase Unicorn Leaderboard.
That’s a small number, compared with the 156 companies globally that are privately valued at above $1 billion, according to CrunchBase. In comparison, CrunchBase tracked 88 private unicorns this time a year ago.
Part of the problem is that some of these companies genuinely aren’t ready. Then there’s also the much discussed argument that Silicon Valley companies are reacting to a deep-seated antipathy for going public following the dot-com burst of 2000, followed by the financial crisis of 2008.
Whether true or not, the rationale for some companies today is that it’s better to raise more money in the private market rather than in the public markets — and in some cases, much more.