They went from a few dozen people in 2015 to 400 in 2019 to 2000 today, and also started hosting images and videos in 2016-17. The result of all this is that they spend way more money than they did a decade ago and despite now making an estimated $600M/yr and 50M daily active users, they are apparently still losing money.
A company that's 15 years old, never turned a profit really or made much profit if it ever did, and is still losing money is not in a good place to IPO, which existing investors want to recoup some of their investment.
A company that's 15 years old, never turned a profit really or made much profit if it ever did, and is still losing money is not in a good place to IPO, which existing investors want to recoup some of their investment.