Stay up to date on all things crypto and blockchain

Token Daily is a place to discover trending news and products in crypto and blockchain.

Coinbase is in talks to acquire Earn.com

Balaji Srinivasan would join as Coinbase as CTO, if a deal is signed.

Article Coinbase Earn posted 1 year ago

with or if you'd like to join the discussion.
Ben Tossell
The talks continueeeee and the rumours get bigger

"Why it matters: As 21, the company helped raise the early profile of Bitcoin among Silicon Valley investors.

Andreessen Horowitz has stakes in both companies, and is said to have recused itself from board-level negotiations (although former A16Z partner Srinivasan remains a "board partner" with the firm).
Earn originally originally was developing chips and hardware for cryptocurrency mining. It has since pivoted to crypto-based messaging technology, which some believe could someday be used to accept/decline online advertising.
If the equity value ended at around $120 million it would basically be break-even for Earn's Series C investors, given stock preferences, but earlier backers will be easily in the black because of Earn's early cryptocurrency activities.
Keep that last point in mind when you think about valuations of other crypto-related companies like Ripple. Traditional equity is only part of the capital equation."
2
X