A funny thing has happened in tech in recent years. It used to be that you could expect a venture-backed company to file for an IPO soon after a few rounds of funding — after, say, its Series C or Series D raise. But now we’re seeing companies’ venture capital investments go well into the hundreds of millions, and valuations cross over into the 10-figure range, with no S-1 filing in sight. Sequoia Capital, for instance, is said to have a dozen portfolio companies with valuations of more than $1 billion who are still private entities.
So when we had the opportunity to sit down with Sequoia’s Roelof Botha backstage at Disrupt NY this week, we asked him what his perspective is on this trend and why Sequoia is so patient regarding the IPO route.
We also talked about where the PayPal Mafia for the current generation of techies might be forming, how “brain drains” can lead to the next wave of innovation, and more. Check it all out in the video above.