If you can IPO at a ~100x sales multiple, what more do you really need? Hard to feel sorry for those that chose to stay private for a decade+ while the getting was good
It’s called greed. And also private money was incredibly cheap so why bother with reporting requirements that come with an IPO
They weren't old enough by 2020/early 2021. Series A was 2012. It's usually 10 years after that you need to IPO.
So the expected IPO would be 2022. Bad timing/luck.
Similar for those option plans. Planned IPO +2 years should OK. Unless it hits you like the last 2 years.
I am not sure if the last chapters of "The hard thing about hard things" or "Venture Deals" had more details.
So you can expect Series A with fresh funds and money (10 years runtime left).
Around year 2000 median age was 4 years, 2001-2009 was 8-9 years and since 2008 median age has been 9-14 years with the majority more than 10 years.