Rippling Effect: $16.8 Billion Valuation? Gotham's More Predictable Than This Tech Boom!

Holy Valuation Batman!

Gotham's criminals are easier to understand than these tech valuations. Rippling a HR software startup is now worth $16.8 billion. Billion. That's enough to buy Wayne Enterprises... twice. They raised $450 million and are buying back $200 million in shares. No lead investor? Sounds like someone's playing a game of chicken and I'm not talking about the Penguin's latest scheme.

IPO? I Think Not.

The IPO market is as dormant as Gotham on a Tuesday night... before the Joker decides to throw a party. Rippling isn't planning an IPO anytime soon. CEO Parker Conrad says public markets want profitability and slower growth. In Gotham we call that 'boring.' But hey at least it means less chaos... for now.

Growth? We Don't Need No Stinkin' Profits!

Rippling's annual revenue growth is over 30%. They doubled their annual recurring revenue to over $350 million. Conrad isn't focused on profits right now. Apparently in the tech world growth is king. Reminds me of Two Face – one side wants profit the other wants chaos. Which will win?

Payroll Credit Cards and... Corporate Espionage?

Rippling offers payroll services device management and corporate credit cards. They're competing with the likes of ADP and Paychex. Oh and they sued Deel for allegedly deploying a spy. A spy! Even I Batman have to admire the audacity. Maybe I should hire this spy… for research purposes of course.

The Spy Who Rippled Me

Conrad thinks the lawsuit might be boosting business. "Some companies have said 'Hey we're talking to Rippling because of this.'" Apparently scandal sells. Who knew? Maybe I should leak some photos of the Batmobile getting a flat tire. Ratings gold!

The Future is Unwritten

The IPO market might pick up near Labor Day. But in the meantime Rippling is sitting pretty with its massive valuation. Is it sustainable? Is it a bubble? Only time will tell. But one thing's for sure: Gotham's financial district is less unpredictable than this tech world. I need a new hobby... maybe accounting.