And the reason is because there is lot of money to be had in private markets, especially with companies like Softbank raising and giving out tons of money.

If we dig further, this is an after-effect of keeping the interest rates low for a long time. That means access to credit is much easier. So, there is no rush to profitability and going public.

But, given that interest rates are now slowly rising I predict we might see more and more companies going public and IPO to raise money.