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San Francisco-based enterprise blockchain company Ripple has wow the crypto industry again announcing a strategic investment of $ 500 million from institutional investors (led by affiliates of Fortress Investment Group, Citadel Securities, and others)
The company’s valuation is now inflated to $40 billion.
The investment follows strong growth in its business (payments, custody, stablecoins, prime brokerage, treasury management) and a recent tender offer to shareholders and employees. As reported by U.Today, the tender offer attracted little demand.
Ripple emphasizes that it has acquired companies (two of them valued at more than $1 billion) and is expanding globally and in use cases.
Because this is significant
Many companies are in the $1-10 billion “unicorn” range. This moves Ripple into the category of the largest private companies.
It is not at the top, since some private companies are valued at more than $100 billion, but it is definitely among the private companies of large capitalization (tens of billions).
