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I don't know about an IPO but I was talking to a Shopify employee at Pycon and he said it's the largest Rails app in the world.

• grandalf 12y ago
  not sure if that is a good thing :) Impressive nonetheless.
• pushrax 12y ago
  Definitely one of the oldest - Shopify is on Rails 4 now, initial commit was on the release day of Rails 0.5!