Ripple’s XRP Set To Launch Their Initial Public Offering, Business News

Ripple’s XRP Set To Launch Their Initial Public Offering

Tokyo, Japan – May 18, 2021 /MarketersMedia/ —

Brad Garlinghouse, the CEO of Ripple, announced at Davos 2020 that the company will be going public in 12 months. The announcement has expectedly attracted the attention of crypto enthusiasts across the globe.

Ripple and its native crypto token XRP have continued to gather momentum since 2012, currently ranked as the third largest digital asset in the world while Ripple has plans for an initial public offering. The company has been majorly funded privately since 2013, with major VC players like Andreessen Horowitz, IDG Capital Partners, Google Ventures, and SBI Holdings participating in several funding rounds, with close to $292 million raised so far.

The company was able to secure the highest amount from private funding in the last 8 years of its existence, particularly attracting the attention of VCs. The company’s revenue model that includes the sales of XRP to financial institutions and retail investors through crypto exchanges has also helped the company to increase its revenue generation capacity.

In an interview at the World Economic Forum 2020 with the Wall Street Journal, Ripple CEO Brad Garlinghouse hinted at the possibility of some crypto companies going public with their IPOs in 2021. While his claims are yet to be ascertained, recent data has showed that he might be on point with his predictions, especially with a report published by CB Insights on January 22 revealing a significant drop in venture capital funding for blockchain companies in 2019.

More blockchain startups are beginning to try out a proper market fit for their products and services, which could drive away private capital investors. Consequently, crypto/blockchain startups are expected to reach out to public markets to raise funds.

The crypto IPO trend had already begun in late 2019. Po-crypto Silvergate Bank offered its shares for trading on the NYSE and Canaan went public on Nasdaq. More crypto and blockchain-based companies are looking to go public in the coming months.

Ripple is however looking to get more than just raising funds from the capital market, with the company’s partnerships with several banking and financial institutions worldwide reiterating this claim.

The decision for Ripple to go public will allow investors another way to invest in the company through shares. However, there are concerns that the move might take some shine off XRP as an investable asset.

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Release ID: 89014381