Ripple Shelves IPO Plans Despite Robust Growth, Focuses on Strategic Partnerships

Key Takeaways

• Ripple announces no plans for an IPO.
• Company focusing on organic growth and strategic partnerships.
• Ripple does not report full annual revenues as a private company.
• Customer base doubled driven by RLUSD stablecoin adoption.
• Ripple secures $500 million strategic investment from notable institutional investors.

Ripple, the U.S. blockchain firm known for the XRP cryptocurrency, has opted against pursuing an initial public offering (IPO) following the resolution of its protracted legal battle with the Securities and Exchange Commission (SEC). Monica Long, Ripple's president, stated that the company has no immediate IPO plans or timeline, according to a Bloomberg report released on Wednesday.

Long elaborated, “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.”

Ripple’s decision to forgo an IPO concludes years of speculation that followed hints from various executives before and after the company faced a $1.3 billion lawsuit from the SEC in late 2020.

Ripple's Revenue Disclosure

As a private entity, Ripple does not release comprehensive annual profit or revenue figures. CBI Insights, a market intelligence platform, estimates Ripple's 2024 revenue at $1.3 billion.

While Long refrained from disclosing the precise revenue for 2024, she noted a doubling in Ripple's customer base. This growth was attributed to the increasing adoption of Ripple USD (RLUSD) stablecoin and enhanced regulatory clarity across various global markets.

Long's comments coincided with Ripple's announcement of a $500 million strategic investment from prominent institutional investors, including Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.

This capital raise follows what Ripple described as 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,” Ripple stated in its $500 million investment announcement. The company also noted that it has repurchased over 25% of its outstanding shares in recent years.

In March, Ripple CEO Brad Garlinghouse officially announced the SEC’s dismissal of its multi-year legal action against the company. Garlinghouse had previously suggested a potential IPO in 2020, describing it as a "natural evolution" for Ripple.

Cointelegraph reached out to Ripple for a statement regarding its IPO stance but did not receive a response by the time of publication.

Despite Ripple’s current stance, several other major crypto firms, including Circle (issuer of USDC), Bullish, and Gemini, have either gone public or announced plans to do so in 2025.