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Goldman Sachs is one of the biggest investment bankers for IPOs – where banks are paid millions of dollars for each listing they write. However, CEO David Solomon told attendees at the Cisco AI Summit in Palo Alto that startups should rethink the idea of going public. Financial Times.
Solomon said that startups can make a lot of money equally at scale and in the private markets without going through the hassle of becoming a publicly traded company.
“Being a public company is not fun,” he said. “Who wants to be a public company?”
Goldman is increasingly working with large private companies, including helping Stripe in a $6.5 billion round in 2023. Stripe is part of a growing class of large, private technology companies that have decided to stay private for longer.
