# Stripe, SpaceX, and Databricks are showing that it's possible to scale into the tens or even hundreds of billions of dollars without ever becoming public.

*fintech · news · 2026-05-07 · Benzinga*

## Key points

- Global secondary market transaction volumes reached a record $226 billion in 2025, up 41% from 2024.
- SpaceX's valuation surged from $350 billion in 2024 to nearly $1.75 trillion by February 2026.
- Companies now facilitate partial investor cashouts every 12-24 months using structured secondary sales.
- Stripe and Databricks achieved massive valuations and liquidity cycles without ever pursuing an IPO.

**Companies:** SpaceX, Stripe, PayPal Holdings, Databricks

[Read the full story on Benzinga](https://www.benzinga.com/markets/private-markets/26/05/52397464/stripe-spacex-databricks-and-the-end-of-a-traditional-ipo)

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