The percentage of companies that have taken VC funding and that eventually IPO is far smaller than the percentage that either become a going concern or that end up being acquired by another company or by a private equity party.
Ok, I thought you meant "becoming a going concern" as an alternative to an IPO (an IPO will also result on becoming a going concern, if it was not one already).
Ah right, I see what you mean now. Yes, I could have worded that clearer. It should have been 'simply to continue to be a going concern', not as if companies that have IPO'd are no longer a going concern.
