Brad Garlinghouse

Bradley Kent "Brad" Garlinghouse is the CEO of financial technology company Ripple Labs. He previously was the CEO and chairman of Hightail (formerly YouSendIt). Before Hightail, he worked at AOL and Yahoo!

Brad Garlinghouse
Born
Bradley Kent Garlinghouse

(1971-02-06) February 6, 1971
Topeka, Kansas
NationalityUnited States
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] The whitewashing of unflattering details from this Wikipedia page was a subject of discussion by Financial Times in August 2020.[2]

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.[3] While at Yahoo! he penned an internal memo known as the "Peanut Butter Manifesto,"[4] calling for the company to focus on its core business, rather than spreading itself too thin, like peanut butter.[5]

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 to 2011. He joined Hightail and served as its CEO until September 2014, leaving after a disagreement with the board regarding company direction.[6]

Garlinghouse previously held board positions at Animoto.[7]

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.[8]

In December 2019, Garlinghouse announced that Ripple had raised a $200M series C funding round from Tetragon, SBI Ventures and Route 66 Ventures.[9] In 2020 Garlinghouse admitted that Ripple Labs would be losing money if it did not have the revenue generated from the sales of the XRP cryptocurrency.[10]

In 2018 and 2019 Garlinghouse claimed on multiple occasions that the published error rate for SWIFT messaging was at least 6%.[11] This was shown to be untrue by research published by the London School of Economics Business Review that showed Garlinghouse's claims were based on mis-reading of a paper published by SWIFT that did not refer to error rates in messaging.[12]

Garlinghouse has been personally named in a group of class actions, notably Zakinov v. Ripple Labs Inc. (case number 18-6753), running since 2018 that claim Garlinghouse and his employers, Ripple Labs Inc. have been in breach of various California and Federal securities laws.[13] He was also a party to Bitcoin Manipulation Abatement LLC v. Ripple Labs Inc., which was administratively closed with reference to case 18-6753 previously mentioned.[14]

On the 23rd of December 2020 the SEC issued a complaint alleging that Garlinghouse, Ripple Labs and Ripple Chairman Chris Larsen had committed multiple breaches of securities laws.[15][16]

References
  1. "Story Details - Alumni - Harvard Business School". www.alumni.hbs.edu. Retrieved 2020-05-12.
  2. Kelly, Jemima (August 24, 2020). "Who's been editing the Ripple CEO's Wikipedia page?". Financial Times. Retrieved 2020-10-18. [I]t’s come to FT Alphaville’s attention recently that some Wikipedia users — two in particular — have been repeatedly editing Ripple CEO Brad Garlinghouse’s Wikipedia page to remove some less positive aspects of the entry. Specifically, these two users have been removing text under the “Controversies” section of the page, and one of them in fact removed the whole section entirely, before it was reinstated by a different Wikipedia editor
  3. Catone, Josh. "Is Facebook Like Google, or More Like Yahoo?". Mashable. Retrieved 2020-05-12.
  4. "Yahoo Memo: The 'Peanut Butter Manifesto'". The Wall Street Journal. November 18, 2006.
  5. Delaney, Kevin J. (November 18, 2006). "As Yahoo Falters, Executive's Memo Calls for Overhaul '". The Wall Street Journal.
  6. "Why brad garlinghouse left hightail". vox.com. Retrieved 2020-07-19.
  7. "Now At 4M Users, Video Startup Animoto Adds Former Aol/Yahoo Exec Brad Garlinghouse To Board". TechCrunch. Retrieved 2020-04-18.
  8. "Brad Garlinghouse takes over as CEO of payments startup Ripple". TechCrunch. Retrieved 2020-05-12.
  9. "Ripple Raises $200 Million to Push Adoption of XRP Cryptocurrency". Fortune. Retrieved 2020-05-12.
  10. "The art of redefining success, MoneyGram and Ripple edition". FT Alphaville. Retrieved 2020-04-25.
  11. "Swiss National Bank (SNB) - Research TV". www.snb.ch. Retrieved 2020-04-25.
  12. 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.
  13. "18-6753 - Zakinov et al v. Ripple Labs, Inc. et al". U.S. Government Publishing Office. 2020-10-02. Retrieved 2020-10-23.
  14. "Bitcoin Manipulation Abatement LLC v. Ripple Labs Inc. (4:20-cv-03022)". CourtListener. 2020-05-29. Retrieved 2020-10-23. Click the "docket" tab. Note that the PACER link in this source may become free-to-access in the future, see PACER (law).
  15. "Complaintagainst Defendants Ripple Labs, Inc. ("Ripple"), Bradley Garlinghouse ("Garlinghouse"),and Christian A. Larsen ("Larsen" and, with Ripple and Garlinghouse, "Defendants")". SEC. Retrieved 2020-12-23.
  16. Popper, Nathaniel (22 December 2020). "Cryptocurrency Company Ripple Is Sued by S.E.C." The New York Times.


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