> The timing of the IPOs only serves to further stoke the suspicions of those Wall Street observers who see a plot to transfer a private-market bubble into public hands.
In a world of ample private capital, there are only two real reasons to IPO: providing an exit for investors and raising monies that can't be raised in private. Neither reflect well on the future prospects of the company.
A third option - raising capital from a public market may be cheaper holistically. Perhaps the private money is heavy into competition, and you’re worries about onerous terms.
I’m sure we could think of other options if we tried really hard.
The whole business model of modern capitalism seems to be to exernalize every cost and privatize every profit, so just par for the course. At least let the public pension funds eat that bubble pop and not the VCs.