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Coinbase

Coinbase

Coinbase is a digital asset exchange company headquartered in San Francisco, California. It operates exchanges of Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.

Coinbase was founded in June 2012 by Brian Armstrong (CEO) and Fred Ehrsam. It enrolled in the 2012 Summer Y Combinator startup incubator program. In October 2012, the company launched the services to buy and sell bitcoin through bank transfers. Coinbase allows Bitcoin, Bitcoin Cash, Ethereum, and Litecoin trading on their platform.

On Oct 30, 2018, Coinbase announced that it had raised another $300 million in a funding round led by Tiger Global Management, valuing the firm at more than $8 billion. Y Combinator Continuity, Wellington Management, Andreessen Horowitz and Polychain also invested in the round.

Coinbase booked revenue of $1 billion in 2017 and is expected to bring in $1.3 billion this year despite the slump in bitcoin, according to media reports.

Timeline

Coinbase acquires Paradex

Coinbase plans to use Paradex' cryptocurrency trading platform to allow its customers to trade hundreds of cryptocurrency tokens. The terms of the acquisition were not disclosed.

Coinbase acquires Earn.com, hires Balaji Srinivasan as CTO

The price of the deal is not initially made public upon announcement of the acquisition, however a Coindesk report suggested a potential deal of over $100 million. Coinbase also hires Earn.com CEO Balaji Srinivasan as their first CTO.

Coinbase reaches #1 on the iOS app store

Due to increasing demand for trading cryptocurrencies, Coinbase reached the top spot in the United States iOS app store.

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