No one has a clue about the IPO market. 3 About a third of founders said there would be more IPOs next year, a third said fewer IPOs, and the last third said they thought things would stay pretty much the same. There doesn't seem to be a ton of clarity around this topic — even among late-stage companies, there's still no consensus. Oddly, we did find that a huge chunk of early-stage founders believe their companies will go public in the next 3 years, whereas most late-stage founders said it would take more than 7 years for their companies to IPO. It seems the further you go down the road as an entrepreneur, the more distant that horizon gets.