Technology
Bitcoin exchange Coinbase valued at $8 billion after raising another mega round
- Coinbase is now officially valued at $8 billion.
- The bitcoin exchange announced a $300 million Series E on
Tuesday, with a mega valuation to match. - That means the cryptocurrency startup is publicly valued
higher than Slack and Instacart.
The popular cryptocurrency exchange Coinbase is now valued at $8
billion following a mega funding around, the company announced
Tuesday.
That round, led by Tiger Global Management, infuses the crypto
startup with $300 million to “accelerate the adoption of
cryptocurrencies and digital assets,” according to the
company.
Y Combinator Continuity, Wellington Management, Polychain
and Andreessen Horowitz also participated in the round.
Its new $8 billion valuation means that Coinbase is now publicly
valued higher than the
$7.1 billion Slack and the
$7.6 billion Instacart. Rumors of the valuation were
first reported by Recode in early October.
While the greater bitcoin and cryptocurrency markets have
suffered since hitting astonishing highs in December 2017,
Coinbase has continued to truck along, thanks in part to funding
and support from some of the biggest names in Silicon Valley
venture capital.
The company was last valued at just $1.6 billion in August 2017
thanks to funding from big names like IVP, Spark Capital,
Greylock Partners, and Battery Ventures.
In February, Coinbase vice president Dan Romero
told Business Insider that the company’s goal was to become
the Google of crypto.
Read more about Coinbase’s strategy to become the Google of
cryptocurrencies.
Get the latest Bitcoin price here.>>
-
Entertainment6 days ago
What’s on the far side of the moon? Not darkness.
-
Business7 days ago
How Rubrik’s IPO paid off big for Greylock VC Asheem Chandna
-
Business6 days ago
TikTok faces a ban in the US, Tesla profits drop and healthcare data leaks
-
Business5 days ago
London’s first defense tech hackathon brings Ukraine war closer to the city’s startups
-
Business7 days ago
Photo-sharing community EyeEm will license users’ photos to train AI if they don’t delete them
-
Entertainment6 days ago
How to watch ‘The Idea of You’: Release date, streaming deals
-
Entertainment5 days ago
Mark Zuckerberg has found a new sense of style. Why?
-
Business5 days ago
Humanoid robots are learning to fall well