Tech start-ups are waiting “way too long to go public”, the head of Google’s venture capital arm has warned, highlighting a widening rift in Silicon Valley over the fate of the latest generation of fast-growing start-ups.
Many of the companies leading the technology boom, including Uber and Airbnb, have sought to stay private as long as possible, raising ever-larger amounts of money from successive rounds of private investment. But the mood is changing and investors are growing skittish.
Bill Maris, head of Google Ventures, one of California’s most active VC firms, warned some start-ups might rue deciding to exploit the private markets to push for high headline valuations, rather than selling shares to the public.