I think that despite previous claims of planning an IPO over the years, it appears more likely now, not due to optimal conditions but rather a potential lack of investor interest in further funding rounds (Series G), presenting an IPO as the only viable option to recover investments.
GlassDoor reviews depicting internal turmoil, an ongoing trial likely heading to appeal, and their US trademark facing possible cancellation are not painting the prettiest of pictures.
This combination of factors contributes to the peculiar timing of the IPO announcement and the lack of marketing around it.
The way the investor jumped on the board and announced the IPO feels like he was commandeering a sinking ship trying to save it.
I may be completely wrong - only a few people really know what is going on.
