It's the contents of the submission that are confidential, not the fact that they are submitting.
replyThe contents themselves contain a lot of detailed information about the internals of the company including financials, revenue, ownership details etc... those details are what's confidential until the SEC gives its approval, at which point the public can then review the document.
What this means it that it won't survive scrutiny, so better hide it so that there is only a small amount of time to do it.
replyWhy do you think this? Confidential filings before an IPO are standard practice.
replyI suppose they announced it because the fact that they submitted it would leak anyway.
replyI like your sense of humor
replyThat's how you know it's purely marketing and they're not actually going public.
replyexcuse me. what am i being sold, in this so called marketing?
replyYou? Nothing. Private investors? The dream of an IPO.
replythey closed series h, last thursday†. what are you on about?
replyGiven how often these get leaked (see Palantir + SpaceX) and the cost of preparation, why would you ever file an S-1 unless you were serious?
replyBecause you want another funding round but you will get it only if investors think they're going to get their money back soon.
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