No rush to ring the bell! Ripple reiterates no IPO plans for now, with sufficient cash on hand
Blockchain payment company Ripple President Monica Long stated that the company currently has no IPO plans and emphasized that Ripple's financial situation is stable. Rather than going public, the company prefers to expand through acquisitions and product development.
During an interview with Bloomberg on Tuesday, Monica Long mentioned: "At this stage, we still plan to remain private. Typically, companies pursue an IPO to gain investor support or liquidity in the public market, but our current financial health is very strong. We are fully capable of continuing to fund and invest in the company's growth without going public."
Ripple only completed a $5 billion private placement financing in November last year, with investors including Fortress Investment.