And DJI will never go public. Being able to fully control your company and keep the benefits is the dream of any entrepreneur and there aren't many who are lucky enough to be able to do it as well as them. You only bring in investors if you have no choice because you need the money, they definitely don't.
You say that "Being able to fully control your company and keep the benefits is the dream of any entrepreneur," and thats exactly what it is, a dream. And DJI's boss is a dreamer because he is good at some things, and horrible at others. You cant build a company and ignore your customer base. They need to ramp up customer service, decrease their repair turnaround time, and get their drones to be compatible and reliable across multiple platforms. And most of all quit lying to their customers.
Yes DJI is doing a few things well for themselves including bringing great products to the market, and hoarding their equity. Hoarding equity is like a kid not wanting to share his candy with others. DJI's boss thinks he is doing everything right, that he is perfect, and that's why he is not giving up any equity. It's not about the money for him, it's the control, and that's where he is making a big mistake.
Do you think DJI is a well run and organized multi-billion dollar company? Any company can go out and make promises to people and then fall through on their promises. DJI's engineering and innovation departments are light years ahead of their organizational abilities. You cant have a company selling as many products as they can just because they are marvelous products, and then ignore the followup demands that that growth entails. DJI has a huge budget for engineering, but their tech support staff is clueless, and their repair department is the most pitiful of any company I have ever known or dealt with. This is a great example of a CEO who needs a strategic partner to help DJI clean up it's act and improve it's reputation with the people who support it.
Whats most amazing to me is that DJI still has any friends in the industry. The last debacle with delayed Mavic production left tens of thousands of customers and DJI's biggest distributors holding the bag. That's bad business and can tarnish a companies reputation forever. DJI seems immune to that, and has a defiant and defensive stance about it, and DJI's customers have short memories as to what went on last year with production delays, and parts shortages, and still goes on today. I see people lining up to buy the Spark, already knowing that the white will ship first, and other colors later. Say that again DJI? When you announce a product shipping date, you need to stick to it.
Most startup entrepreneurs dont have the wherewithal to take their companies to the next level. Most have a great concept, but lack other skills such as marketing, production, or organization. DJI needs to get bought by a company that values their customers, giving help where needed, and keeping the company on not only a profitable track, but strengthen their organizational structure as well.
Frank should take a back seat and work harder on innovation, advancing DJI's technology, and building relationships with new players, as he has been doing.