The company became hugely popular due to its belief in cross border transactions and a faster settlements time period. Apart from this Ripple has maintained a strong stance to give back to its investors in handsome dividends.
Ripple and their diverse range of partnerships have sparked numerous investments for the company’s endeavours. The end of last year saw a flurry of activity in Ripple’s inner sanctum with its CEO Brad Garlinghouse revealing that the company had received a $200 million boost during its latest Series C funding round. This new capital raised the company’s valuation to a whopping $10 billion, outstripping the marks set by previous FinTech organization.
Turns out Ripple’s funding round was so good, it beat the values of approximately 93 percent of the 2691 stocks in the Nasdaq Composite Index. Not just that, it was also above 16 percent of all S&P 500 stocks. The companies that lost to Ripple were household names like Whirlpool, Under Armour, Xerox including others.
Brad Garlinghouse had earlier stated:
“We are in a strong financial position to execute against our vision. As others in the blockchain space have slowed their growth or even shut down, we have accelerated our momentum and industry leadership throughout 2019.”
Companies like Akamai, Alliant Energy and Amdocs failed to meet the target set by Ripple, individually clocking $2.83 billion, $3.46 billion and $4.09 billion. The stock markets have always been considered as a key metric in measuring the success of an organization, and given that Ripple is still in its startup phase, there are still a lot of things to be considered. The finicky nature of the industry has prompted many to wait and watch the progress from a distance before they can jump into the pool again.
Ripple, on their part, have been quite varied when it comes to public listings. The growing number of rules and regulations with the added scrutiny levied by governments, the company would rather wait for a more concrete law book. Ripple and it’s native token XRP have been at two ends of the spectrum in terms of success rate with the latter’s value diminishing in the bear market. That, however, did not stop Ripple CTO David Schwartz from claiming that XRP was similar to the iPhone in terms of a technological leap. Schwartz leapt at the chance to defend XRP and tweeted:
“The truth is though that nobody really cares that much who else they create value for. They care what features and advantages something can provide for them. I don’t avoid an iPhone because I don’t want Apple stockholders to make money. Why do I much care who makes money?”
Instant crypto credit lines from only 5.9% APR - unlock your crypto-weatlh tax-efficiently, without selling it. Earn up to 8%interest per year on your stablecoins, USD, EUR & GBP. $100 million custodial insurance.
Get started now..
