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Goldman Sachs is one of the largest investment bankers “book runners” for IPOs – where banks are paid several million dollars for each listing they submit. Still, CEO David Solomon told attendees at the Cisco AI Summit in Palo Alto that startups should reconsider the idea of going public, reports the Financial Times.
Solomon said startups can scale as big and get a lot of money in the private markets, without having to deal with the hassle of being a publicly traded company.
“It’s not fun being a public company,” he said. “Who Wants to Be a Public Company?”
Goldman is increasingly working with large private companies, including helping Stripe on its $6.5 billion round in 2023. Stripe is part of the growing class of large private technology companies that are deciding to stay private for a long time more time
