https://techcrunch.com/2022/06/28/why-a-crypto-exchange-might-want-to-buy-robinhood/

Selling your company — or not selling your company — is a complicated decision. Price, timing, pride, and a host of other factors play into the decision. Hell, you might simply enjoy running the business, be it a startup, unicorn, or public-market behemoth.

Sometimes the decision is made for a company’s leadership team. Zendesk’s work to avoid selling itself only to later acquiesce at a lower price is one such example. Twitter, which is in the process of a messy sale to Elon Musk, is another.