Answer five questions honestly: Do we have a plan that holds up, and a team with a history of doing what it says? Will the people who know us invest $500,000 to $2 million? Are we ready for audits, quarterly reporting and a board with independent directors? Do we have a strategic reason to be public: capital, acquisitions, talent or valuation? Do we have five to ten years of fight left to build something bigger than we could privately? If the answers are yes, going public is worth a serious look. If not, strengthen the private company first.

Article

Should I take my company public?

Take your company public if you have a plan to grow, the discipline to execute it, and people who know you and will invest. Being public amplifies effort. It doesn't fix a business that wouldn't succeed as a private company. Revenue isn't the test: more than a dozen of the 17 companies we have taken public were pre-revenue. The founder's mindset matters more than the size of the company.

Joel Arberman, Meraki Partners · Reviewed October 2026. Based on 17 companies taken public since 1999: 11 by direct listing, 4 by reverse merger and 2 by IPO.

What does going public do for a company?

It gives a company four levers that private companies don't have:

Access to capital. Investors can see a price, audited numbers and a path to liquidity, which makes raising easier.
Valuation. Public companies with a growth story are often valued well above what a private buyer would pay.
Acquisitions. Sellers, brokers and lenders take a public buyer seriously, and the company can raise cash to pay sellers.
Talent. Stock options with a visible price help hire and keep the people the plan needs.

What doesn't going public do?

It doesn't fix a weak business model. If the company wouldn't succeed privately, being public will only make the problems visible.
It doesn't bring buyers for your stock. Being public doesn't mean strangers will want your shares; trading comes as the company builds substance and traction.
It isn't a way to cash out. We advise founders not to sell shares for years; see when you can sell.

Who should go public?

Founders who are growth-minded, experienced, disciplined and serious about building a business: people who make things happen rather than waiting for things to happen to them. The company can be very early; a business formed tomorrow can plan to go public from the start. What it needs is the right founder and team, access to capital from people who know them, and a clear strategy. See can a small company go public.

When do we tell founders not to go public?

There is no history of execution.
The people who know the founder won't invest.
The plan doesn't hold up.
The business harms people or animals.

If it isn't right for you, we say so in the first conversation.

What does it cost to go public and stay public?

A company typically raises $500,000 to $2 million from about 50 people before listing, enough to cover going public, the first year of being public, and growth. Staying public on the OTC market costs about $300,000 to $500,000 a year for an early-stage company. See the ongoing costs.

How do I decide?

Answer five questions honestly:

Do we have a plan that holds up, and a team with a history of doing what it says?
Will the people who know us invest $500,000 to $2 million?
Are we ready for audits, quarterly reporting and a board with independent directors?
Do we have a strategic reason to be public: capital, acquisitions, talent or valuation?
Do we have five to ten years of fight left to build something bigger than we could privately?

If the answers are yes, going public is worth a serious look. If not, strengthen the private company first.

Want to talk it through?

Tell us where you are, and we’ll set up a first conversation about whether going public belongs in your plan and what it would take. If it isn’t right for you, we’ll say so.

Request a First Call