Companies go public for many reasons. One of the main benefits of IPO exits include providing access to capital and liquidity for existing shareholders such as founders, employees and early investors.
Publicly traded companies are also able to use their shares as capital for making acquisitions.
A public listing also generally instills more confidence in the company and its stakeholders, because joining the public markets requires a dependable market-determined valuation and the company has met certain regulatory requirements and undergone scrutiny by financial authorities.