Already in recent weeks, Coinbase was very active and sought to expand its business activities through the purchase of start-UPS and the creation of new projects. As yesterday it became known, has Coinbase now completed its largest Deal. For an estimated 120 million US dollars, the company buys Earn.com.
On the Acquisition of Earn.com there were already rumors. As now confirmed, were true. Although none of the two parties has called an exact purchase price, but would like to have know TechCrunch that the Deal represents a positive return for those who have provided for earn.com $ 120 million in venture capital. Therefore TechCunch is a sum of at least USD 120 million.
Earn.com it was renamed in October 2017, after it abandoned the existing business model, as a much-anticipated Bitcoin-Mining-Startup (“21E6”), and a Cryptocurrency-based Networking platform developed. On Earn.com users can earn Bitcoin by answering E-Mails and tasks of other users. For example, the platform is aimed at Software developers who want to offer their skills and work on the platform.
According to Coinbase, the Earn.com Team will integrate the operation of Coinbase and the existing business will be continued. Part of the deal is that the CEO of Earn.com Balaji Srinivasan, Coinbase will join as the first Chief Technology Officer (CTO).
Compared to TechCrunch Srinivasan said that Earn.com aiming with the user base and the sales Team of Coinbase in a few months to generate 100 million return. For Coinbase seems to be but also, and especially, as the Blog Post shows for the acquisition to be Balaji Srinivasan, an important factor for the Deal.
Srinivasan was ahead of its time in Earn.com inter alia, a Partner at Andreessen Horowitz, was awarded the young innovation award (innovators under 35) by the mit Technology Review, and brings his much-acclaimed name in the company.
Coinbase is expanding
In the past few weeks, is to determine in the case of Coinbase, a strong spirit of Expansion. In March, Coinbase has received an E-Money license from the UK regulator FCA.
The license has used Coinbase to get over the financial firm Barclays access to the UK’s “Faster-Payments-program”. At the end of March Coinbase said that it wants to support the technical implementation of Ethereums ERC-20, ERC-20 Token offer.
In addition, the stock exchange had announced to support the future Hard Forks of Bitcoin and guarantee the payment of this. At the beginning of April, the company announced the launch of the “Coinbase Ventures”, a Fund for crypto-Startups. Not least, on Friday, the company announced to have Cipher Browser bought.
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