Coinbase Acquires Earn.com For About $100 million

Coinbase Acquires Earn.com For About $100 million

Exchange
April 17, 2018 by Bitzamp
312
Coinbase Acquires Earn.com For About $100 million A statement published on Monday, April 16, states that Coinbase, one of the leading cryptocurrency exchanges in the world, announced that it has just acquired one of the Bitcoin’s best-funded startups In a deal that shows how the cryptocurrency platform continues to mature and expand. The statement confirmed
Bitzamp

Coinbase Acquires Earn.com For About $100 million
A statement published on Monday, April 16, states that Coinbase, one of the leading cryptocurrency exchanges in the world, announced that it has just acquired one of the Bitcoin’s best-funded startups In a deal that shows how the cryptocurrency platform continues to mature and expand.

The statement confirmed to a previous report that Coinbase and other potential investors were discussing the acquisition of Earn.com, formerly known as 21 Inc. and as part of the deal, Earn’s Chief Executive Balaji Srinivasan would join the company as chief technology officer.

Earn.com allows senders to pay users in digital currency to answer emails and complete tasks. In relation to the current state, the introduction of payments benefits both normal email users and large-scale senders of commercial emails. Coinbase is paying for the company with some cash, some stock, and interestingly, some crypto assets.

Coinbase’s offer was slightly over $ 100 million, however, with some juicy additions to gain leadership. Earn encountered some pushback from its investors at that sale price because that’s a sharp decrease from its last round of private financing in 2015, $310 million before the new cash, according to PitchBook, though later investors will as usual be paid out first.

A huge part of the deal’s appeal to Coinbase is the chance to bring Balaji Srinivasan, a well-regarded former Andreessen Horowitz partner, into their headquarters. Srinivasan will become Coinbase’s CTO as the company continues to aggressively fill out its C-suite in the early part of this year.
In addition to welcoming Balaji, we’re also very pleased to welcome the Earn.com team to Coinbase. As CTO of Coinbase, Balaji will serve an important role as the technological evangelist for the company. Balaji will evangelize for both crypto and for Coinbase, educating the world and recruiting crypto-first talent to the company.


Join Us On Telegram


 

Add a Comment