Ripple launches $750 million share buyback, company valuation reaches $50 billion
According to informed sources, blockchain payment company Ripple has launched a share buyback program of up to $750 million, valuing the company at approximately $50 billion.
The buyback will be conducted through a tender offer, allowing investors and company employees to sell their shares back to the company. This buyback program is expected to last until April. This buyback plan comes shortly after Ripple attempted to repurchase $1 billion in shares at a $40 billion valuation last year. At that time, participation was relatively limited due to some private shareholders unwilling to sell their shares.
Ripple's most recent financing occurred in November last year, when the company completed a $500 million strategic financing round, also valuing it at $40 billion. This round was led by funds from Fortress Investment Group and Citadel Securities, with participation from institutions such as Market News. Ripple President Monica Long stated earlier this year that the company currently has no plans for an IPO and emphasized that Ripple's financial condition is robust, preferring to continue expanding through mergers and acquisitions and product development.
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