Ripple May Conduct an IPO Within the Next 12 Months

Ripple’s CEO Brad Garlinghouse has allowed the possibility of organizing an initial public offering (IPO) for his company over the coming year.

In a conversation with the Wall Street Journal at the World Economic Forum in Davos, Garlinghouse called the company ‘s potential IPO as a “natural evolution” of the company.

“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,” said Garlinghouse.

In December, Ripple closed its $200 million Series C fundraising. According to Investopedia, usually, such recognition of a company’s high value precedes its large-scale expansion or IPO. During the last investment round, Ripple was valued at $10 billion. According to Crunchbase, to date, Ripple has attracted $293.6 million in funding. What purpose can Ripple set for the IPO, Garlinghouse did not specify.

Garlinghouse shares a bullish spirit in the prospects of Bitcoin as a means of accumulation, but not as a means of payment.

“You don’t want to use BTC at Starbucks b/c by the time you get your coffee, it’ll be cold,” he said.

Shortly before, Ripple reported an 80% decline in XRP sales in the fourth quarter. At the same time, the price of XRP fell by 22%.

Author: Marko Vidrih

Featured image credit: Pixabay