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Coinbase Is Going Public With A $65B Valuation, A First In The Crypto World
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Coinbase Is Going Public With A $65B Valuation, A First In The Crypto World
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Coinbase, a popular cryptocurrency trading marketplace, will go public on Wednesday, on Nasdaq, with a $65 billion valuation. It's the first crypto startup to go public in the US.
The Lede
Coinbase, the SF-based start-up, will receive a $250 reference price per share, valuing the company at around $65B. "It blows a lot of the traditional tech and finance companies out of the water," said venture capitalist Jalak Jobanputra, who is familiar with the industry.Key Details
- Coinbase has 56 million registered users and 1,700 employees. The company's $1.8B revenue in the first three months of 2021 brought in an estimated $750M net profit.
- Brian Armstrong, a former AirBnb software engineer and Goldman Sachs trader, founded Coinbase in 2012.
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