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Ripple has confirmed it is not planning to go public, even after resolving a long legal dispute with the US Securities and Exchange Commission (SEC).
During an interview with Bloomberg on November 5, Monica Long, the president of Ripple, stated that the company is not working toward an initial public offering and has no plans to do so in the near future.
According to Long, Ripple is in a strong financial position and can support its growth goals internally without turning to public markets.
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Although Ripple does not share complete yearly financials, the research firm CB Insights has estimated its 2024 revenue at approximately $1.3 billion.
While Long did not confirm this figure, she noted that the company has grown its customer base, especially after the launch of its USD stablecoin and with clearer rules for digital assets in various countries.
This announcement follows Ripple’s notable financial momentum. The company recently completed a $500 million fundraising round led by several large institutional investors, including Citadel Securities, Galaxy Digital, Brevan Howard, Pantera Capital, and Marshall Wace.
The funding followed a $1 billion share repurchase initiative that valued Ripple at around $40 billion. Ripple stated that enabling shareholders and employees to cash out their shares remains a key focus.
Ripple recently took over Palisade, a company that develops digital asset wallets and custody tools. What is the goal of the acquisition? Read the full story.
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