Ripple Initiates $750 Million Share Buyback, Company Valuation Reaches $50 Billion

BlockBeats News, March 12th, according to sources familiar with the matter, blockchain payments company Ripple has initiated a share buyback plan of up to $7.5 billion, valuing the company at around $50 billion. The buyback will be conducted through a tender offer, allowing investors and company employees to sell their held shares back to the company. The buyback plan is expected to last until April this year. Bloomberg first reported the news.

This buyback plan comes shortly after Ripple's attempt in October last year to buy back $1 billion worth of shares at a $40 billion valuation. At that time, participation was relatively limited as some private shareholders were unwilling to sell their shares.

Ripple's most recent funding round occurred in November last year when the company completed a $500 million strategic financing, with a valuation also at $40 billion. The round was led by funds affiliated with Fortress Investment Group and Citadel Securities, with participation from institutions such as Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.

Ripple's CEO Monica Long stated earlier this year that the company currently has no plans for an IPO, emphasizing Ripple's strong financial position and a preference for continued expansion through acquisitions and product development. (The Block)