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The most likely one is an acquisition, but there are others like IPO (including small cap), RTO, SBO, LBO, Equity Crowdfunding and even ICO.
However, your equity is nearly worthless* unless your startup has an liquidity event like IPO or acquisition.
Lubin, who today runs ConsenSys, a studio building decentralized applications, told us onstage, for example, that his "legal team and all of our legal advisors are not comfortable with the term ICO," because it sounds a lot like IPO. "There are different types of token launches.
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In 2002, he looked at the growing press coverage of nanotech and concluded that a "Netscape-like IPO" would take place in 2004.
In 1998, I knew numerous friends and colleagues who were planning their life on the basis of a Netscape-like IPO (at the "-ents," for example: Scient, Viant, Sapient), saying sagely that "retiring at 40 really makes the most sense so that I can travel for a few years then give back to society, possibly by teaching".
The downside: Continuing, structural problems in the IPO markets, brought on by the raft of regulatory and Wall Street reforms that have gone into effect in the last few years, mean the next great start-up won't have a Google-like IPO.
As oil prices have spent much of the last year in more reasonable territory and the whole Inconvenient-Truth-fad has faded, cleantech needs a huge Netscape-like IPO to get everyone excited and ignite real investment in needle-moving science and development, not play-it-safe software programs to manage smart grids more effectively.
The big things in business, like IPOs, I attribute to luck.
These are earned through "exits" like IPOs and M&A.
And like IPOs, these buyouts usually represent larger exits than corporate acquisitions.
It looks like IPOs were up significantly in the first quarter of this year, while M&A dipped for venture-backed companies.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com