While stock exchanges are seeing an influx of mass investors, the shortage of promising assets becomes more acute: many tech companies are delaying IPOs. Only 23% of founders of fast-growth businesses are planning
to go public in the next 1−3 years, and just 3% in the next 12 months. Founders are not happy with the valuations based on traditional business metrics, such as EBITDA, which do not reflect the real growth potential of the companies. At the same time, businesses are in dire need of funding.