Ripple is a U.S.-based financial technology start-up, with Brad Garlinghouse declared as the Company’s Chief Executive Officer. Chris Larsen, the former CEO of Ripple said, Brad Garlinghouse, will become the new CEO effective Jan. 1st. San Francisco-based Ripple is a provider of blockchain-based cross-border payments technology for banks and has produced over $90 million in financing from a entire spectrum of venture capitalists.
Blockchain technology powers the digital currency bitcoin, enabling data sharing across a network of individual computers. Ripple achieved its fame from registering and trace resources beyond all businesses. Larsen said in an interview with Reuters, “Brad has been in fintech for 20 years and he is kind of looking forward to not having the day-to-day responsibility the CEO takes”. Larson further comments on his leave is aimed towards a leave to spend more time wit family; “I am trying to get the right balance between Ripple and spending time with my two young boys, but I couldn’t be more happy for Brad about where we are and how Brad has helped gotten us here and what he would be able to do for us going forward”.
In 1996, Larsen co-founded E-loan, one of the first online mortgage lending platforms, whose business grew to a $1 billion company in terms of market value by 2000. In 2006, Larsen also co-founded Prosper Marketplace, the first U.S. peer-to-peer lending marketplace. Garlinghouse, was the former Hightail’s CEO, a cloud service company that lets users send, receive, digitally sign and integrate data, the president of applications and commerce at AOL, and a senior vice president at Yahoo.