Private Company vs Public. Why Not Just Stay Private?

Interesting story going on right now with AirBnb. There's some who want to take the company public and some who want to keep it private. This leads me to think about what is actually better for a company that thrives without public investment.

Wouldn't it be better to avoid the public scrutiny of every move that comes with being a publicly traded company? It seems like the biggest private companies fly under the radar because they do not have the responsibility of disclosing every move to shareholders and the public.

I think AirBnb should try to stay private as long as possible. Anyone disagree?