Coinbase – Considers Its Valuations at $8 Billion After It Acquisition By The Earn.com
In the last eight months, Coinbase’s valuations have soared by 500%.
When pitching the equity package to Earn.com, Coinbase offered its stock at an approximate price but sources familiar with the matter told that Earn’s investors settled the deal for being paid in cash while some of the members from the Earn’s management team preferred to take their payments in stock options which also included former Earn CEO (now Coinbase CTO) Balaji Srinivasan.
Back in August 2017, Coinbase was valued at $1.6 billion having completed the Series D funding round led by IVP. The company’s fortunes clicked in the last quarter of 2017 when the overall crypto markets exploded to over $750 billion valuations at the end of 2017, and Bitcoin surging to its all-time high of $20000. With the booming crypto market and the craze surrounding it, Coinbase managed to fetch $1 billion in revenues.
Coinbase has earned the reputation as a go-to-exchange to trade cryptocurrencies because of its user-friendly policies. The exchange is currently said to be in talks with regulatory bodies to get itself registered as a licensed brokerage firm.
In the past few months, the exchange is seen making some important acquisitions in a bid to expand its products and services to establish a larger reach and a strong foothold in the crypto markets. In addition to the major acquisition of Earn.com, the company also acquired Ethereum Wallet Startup ‘cipher Browser’ which is a popular Web 3 decentralized app (Dapp) browser and further said that it would merge its features with the exchange’s own decentralized browser ‘Toshi’.
The company has recently brought some major changes to its payments platform. In February this year, the company launched a Coinbase Commerce button making it absolutely easy for merchants to receive payments.
Back in the month of March, Coinbase launched a New Crypto Index Fund which will highlight all the major trends and shifts in the digital currency market. Last month, the exchange also announced the launch of Coinbase Ventures which is an early-stage venture capital fund for the financing of companies working in the blockchain and cryptocurrency space.