Ripple launches $750 million share buyback, company valuation reaches $50 billion

Odaily Planet Daily reports that sources familiar with the matter say blockchain payment company Ripple has launched a share repurchase program worth up to $750 million, valuing the company at approximately $50 billion.

The repurchase will be conducted through a tender offer, allowing investors and employees to sell their shares back to the company. The program is expected to continue until April of this year. Bloomberg previously reported this news.

This repurchase 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 limited because some private shareholders were unwilling to sell their shares.

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

Ripple President Monica Long stated earlier this year that the company currently has no plans for an IPO and emphasized that Ripple’s financial health is solid, with a preference for continued expansion through acquisitions and product development.