Brad Garlinghouse

Bradley Kent "Brad" Garlinghouse is the CEO and on the Board of Directors of financial technology company Ripple Labs. He previously was the CEO and Chairman of Hightail (formerly YouSendIt). Before Hightail, he held executive positions at AOL and Yahoo!

Bradley Kent Garlinghouse
Born (1971-02-06) February 6, 1971
Topeka, Kansas
Nationality
Alma materUniversity of Kansas
Harvard Business School
OccupationCEO Ripple Labs (2015-)

He was born February 6, 1971 in Topeka, Kansas. Garlinghouse has a BA in economics from the University of Kansas and an MBA from Harvard Business School.[1]

Career

Garlinghouse had early stints at @Home Network and as a GP at @Ventures before joining Dialpad as CEO from 2000 - 2001. From 2003 - 2008, he served as Senior Vice President at Yahoo! where he ran its Homepage, Flickr, Yahoo! Mail, and Yahoo! Messenger divisions.[2] While at Yahoo! he penned an internal memo known as the "Peanut Butter Manifesto,"[3] calling for the company to focus on its core business, rather than spreading itself too thin, like peanut butter.[4]

After Yahoo!, he served as a Senior Advisor at Silver Lake Partners, and then went on to be President of Consumer Applications at AOL from 2009 - 2011. He joined Hightail (formerly YouSendIt) as CEO until September 2014. Leaving after a disgreement with the board regarding company direction [5]

Garlinghouse previously held board positions at Animoto,[6].

Ripple

Garlinghouse joined Ripple as COO in April 2015, reporting to then CEO and co-founder Chris Larsen. He was promoted to CEO in December 2016.[7]

In December 2019, Garlinghouse announced that Ripple had raised a $200M series C funding round from Tetragon, SBI Ventures and Route 66 Ventures.[8]

Controversies

In 2018 and 2019 Garlinghouse claimed on multiple occasions that the published error rate for SWIFT messaging was at least 6%.[9] The London School of Economics Business Review published a paper refuting this claim, however a study from KPMG concluded, "The official error rate reported by SWIFT is 6% of all executed payments." [10] [11]

Garlinghouse has been personally named in a group of class actions, notably Zakinov v. Ripple Labs Inc., running since 2018 that claim Garlinghouse and his employers, Ripple Labs Inc. have been in breach of various California and Federal securities laws.[12]

In a 2020 an article in Financial Times Alphaville[13] Garlinghouse was quoted as admitting that Ripple Labs would be loss making withough dependent sales of the XRP cryptocurrency.

References
  1. "Story Details - Alumni - Harvard Business School". www.alumni.hbs.edu. Retrieved 2020-05-12.
  2. Catone, Josh. "Is Facebook Like Google, or More Like Yahoo?". Mashable. Retrieved 2020-05-12.
  3. "Yahoo Memo: The 'Peanut Butter Manifesto'". The Wall Street Journal. November 18, 2006.
  4. Delaney, Kevin J. (November 18, 2006). "As Yahoo Falters, Executive's Memo Calls for Overhaul '". The Wall Street Journal.
  5. "Why brad garlinghouse left hightail". vox.com. Retrieved 2020-07-19.
  6. "Now At 4M Users, Video Startup Animoto Adds Former Aol/Yahoo Exec Brad Garlinghouse To Board". TechCrunch. Retrieved 2020-04-18.
  7. "Brad Garlinghouse takes over as CEO of payments startup Ripple". TechCrunch. Retrieved 2020-05-12.
  8. "Ripple Raises $200 Million to Push Adoption of XRP Cryptocurrency". Fortune. Retrieved 2020-05-12.
  9. "Swiss National Bank (SNB) - Research TV". www.snb.ch. Retrieved 2020-04-25.
  10. November 4th; 2019|Finance; FinTech; Information; Technology; Comments, LSE alumni|3 (2019-11-04). "Do six per cent of financial transactions sent via the Swift system really fail?". LSE Business Review. Retrieved 2020-04-25.
  11. Areskär, Per (2020-04-20). "Digitalization in Treasury - KPMG Sverige". KPMG (in Swedish). Retrieved 2020-08-15.
  12. "Ripple must face lawsuit alleging illegal xrp sales". www.bloomberg.com. Retrieved 2020-07-19.
  13. ftalphaville.ft.com https://ftalphaville.ft.com/2020/02/26/1582730287000/The-art-of-redefining-success--MoneyGram-and-Ripple-edition/. Retrieved 2020-04-25. Missing or empty |title= (help)


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