Ripple, a San Francisco-based company, ranks 23rd among the largest private companies worldwide by market capitalization, according to data from CB Insights.
Ranking of Largest Private Companies
According to CB Insights, the largest private company is the American aerospace manufacturer SpaceX, valued at $350 billion. In second place are ByteDance, the owner of TikTok, and OpenAI, both valued at $300 billion.
Ripple and Other Companies on the List
Ripple, known for its XRP cryptocurrency, is valued at $15 billion. It ranks just above the Swedish fintech company Klarna at $14.5 billion and the defense tech firm Anduril at $14 billion. The list also includes companies like OpenSea and KuCoin.
IPO Prospects for Ripple
In early 2020, Ripple CEO Brad Garlinghouse stated that the company would be 'at the forefront' of the crypto IPO frenzy. Despite a prolonged legal battle with the SEC, Ripple is not rushing to go public. President Monica Long clarified that Ripple has adequate liquidity, making an IPO unnecessary.
Ripple holds a significant position in the financial and tech landscapes, showing a substantial market valuation, yet its plans for an IPO remain uncertain.
