The vast majority of public shareholders don't vote their shares. A VC is much more likely to apply unwanted pressure to the board/management than the general public is.
IMO, the best reason to avoid an IPO is to stay out of the media.
IMO, the best reason to avoid an IPO is to stay out of the media.
If it neither needs money nor guidance, then why IPO? The owners already have enough of both.
(not ex-Stripe, but own startup equity and have no problem with them never going public if that is the choice; optimize for the enterprise and existing stakeholders, not the public market mechanics broadly speaking)
The only way to kick out the Collison's would be for the VC's to do it. They currently own 80%. It's easier for the VC's to do that if Stripe stays private than if Stripe IPO's.