Ripple, the US blockchain company behind the XRP cryptocurrency, will not pursue an initial public offering (IPO) following the conclusion of its years-long legal battle with the Securities and Exchange Commission (SEC).
Ripple president Monica Long, in a recent Bloomberg report, stated the company has no plans or timeline for an IPO. “We’re in a fortunate position where we’ve been able to be very well capitalized and fund all of our organic growth, inorganic growth, strategic partnerships, anything we want to do,” Long said.
Ripple’s decision to forgo an IPO puts an end to years of speculation, as multiple executives had previously hinted at taking the company public. The company was hit with a $1.3 billion SEC lawsuit in late 2020, putting IPO discussions on hold.
As a private company, Ripple does not publish full annual profit or revenue reports. However, market intelligence platform CB Insights estimates Ripple’s 2024 revenue at $1.3 billion. Long declined to share the official 2024 revenue numbers but noted that the company has doubled its customer base, driven by growing adoption of the Ripple USD (RLUSD) stablecoin and increasing regulatory clarity around the globe.
Ripple recently announced a $500 million strategic investment from high-profile institutional investors, including Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace. This raise follows what Ripple calls its “strongest year to date” and a $1 billion tender offer, which valued the company at $40 billion.
“As Ripple continues its record year of growth, providing liquidity for shareholders and employees remains a priority,” the company stated in the announcement. Ripple also noted it has repurchased more than 25% of its outstanding shares in recent years.
Ripple CEO Brad Garlinghouse announced in March that the SEC was dropping its multi-year action against the company. He previously hinted at a potential IPO back in 2020, calling it a “natural evolution” for Ripple.
Although Ripple is not eyeing an IPO in the near future, other major crypto firms, including USDC issuer Circle, Bullish, and Gemini, have gone public in 2025.
Cointelegraph approached Ripple for comment regarding its IPO stance but had not received a response by the time of publication.
https://bitcoinethereumnews.com/tech/ripple-ipo-plans-off-despite-sec-case-win-and-record-growth/
