Ripple
Could Go Public within 12 Months, According to Its CEO
Ripple CEO Brad Garlinghouse
has indicated the fintech firm could go public within the next 12 months.
Speaking at the World Economic Forum in Davos, Garlinghouse revealed to the
Wall Street Journal that an initial public offering is a “natural evolution”
for Ripple.
He was quoted as saying:
“In the next 12 months, you’ll see IPOs in
the crypto/blockchain space. We’re not going to be the first and we’re not
going to be the last, but I expect us to be on the leading side… it’s a
natural evolution for our company.”
According to Crunchbase, Ripple
has raised a total of $293.6 million to date, with $200 million being raised
in its Series C funding round. In that round, often the last one before a
company goes public, the company was valued at $10 billion.
It has also recently released
its report for the fourth quarter of last year, indicating its XRP sales dropped by about 80% as it
only sold $13 million worth of the cryptocurrency, compared to $66.2 million
in Q3. Behind the decline was a halt in programmatic sales and a decline in
direct over-the-counter sales.
