**Perplexity's CEO Aravind Srinivas has repeatedly affirmed a 2028 IPO target, most recently reinforced in October 2026 coverage, positioning the company to wait out early AI listings from OpenAI and Anthropic.** This deliberate timeline—unchanged despite rival filings—reflects a strategy to build a longer revenue track record and stronger unit economics before going public. The AI search startup's private valuation sits near $20–23 billion following its January 2026 round, with reported annualized recurring revenue climbing to roughly $450–750 million amid growth in agentic tools like Perplexity Computer and enterprise adoption. Traders see limited likelihood of an earlier IPO or outsized closing market cap because the firm has prioritized measured scaling over rushing to public markets amid uncertain AI valuation multiples. Key upcoming signals include any acceleration in funding rounds or shifts in competitive AI search benchmarks.