Ripple launches $750 million share buyback at $50 billion valuation
The Block
Ripple initiated a $750 million share buyback program, valuing the company at $50 billion.Summary
Blockchain payments firm Ripple has launched a tender offer to repurchase up to $750 million of its shares from investors and employees, valuing the company at $50 billion. This follows a less successful $1 billion buyback attempt last October at a $40 billion valuation. Ripple, which last raised $500 million at a $40 billion valuation in November, has no current plans for an IPO, preferring private expansion through acquisitions. The company has invested billions in the crypto ecosystem, including recent acquisitions like Hidden Road and Rail, and is planning to acquire BC Payments to expand in the Asia-Pacific region. This move occurs while Bitcoin and XRP have seen significant price drops from their October peaks.
(Source：The Block)