You may very well be right! I didn't mean to come off saying you are wrong, just that Revenue isn't a proxy. IKEA on the other hand I very highly doubt has a higher market cap. Retail typically has high Revenue and low margin, like Walmart
Not even close. It might be the most valuable one that uses venture funding (which would be normal given that they might also be the most highly funded venture-backed company, I'm not sure if anyone is beating them on that), but there are a ton of huge private companies that don't use venture funding.
Now I'm curious. Do you have some examples? I know there are some huge companies that are state owned like saudi aramco, but dont know if any other privately held companies with 100+ billion valuation
Most of them are companies whose owners either want to keep them private or who are not well-served by "tradFi" as the cryptobros say. As such, they don't have valuations over $100 billion (they don't have valuations at all, usually), but they are worth over $100 billion.
Several big law firms are likely worth over $100 billion if they ever were equity financed, but use a partnership structure for legal reasons. The same for large hedge funds, which use partnerships for tax reasons.
This list has some more traditional companies that have stayed private but have high revenue:
These lists only include companies that report their revenue for one reason or another (eg to get a loan). Many profitable private companies don't - their owners like to stay private and extract cash from the business rather than having to keep the profit in the business.
State-owned companies are another group entirely, and are often worth a ton.
