[mandeepj]

> purpose of going public is to raise money

Markets are not a charity or piggy bank or donation box. You have to prove your worthiness. If you keep on posting losses then stock is going to get slammed.

Now, coming to reason for going public. The reason that you listed is not the only one. Early investors want an exit. For the same reason, Uber's founder was kicked out and Dara was brought in - so that company can prepare for an IPO.