@desikn It’s still an exit, but an exit to the public with an IPO. In the VC game, your startup either goes under or it exits; there is no third option*
* VERY rarely (statistically insignificant), an org will manage to clear its debt by buying out their investors, etc. e.g., FastMail, for example, were bought by Opera but then became a thorn in their side but Opera couldn’t shut them down due to existing enterprise contracts and so they just let them go, clearing their debt in the process.
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