Coinbase Private Sale Puts Its Valuation at $90 Billion

Coinbase Private Sale Puts Its Valuation at $90 Billion
фото показано с : beincrypto.com

2021-3-9 11:59

A private auction of Coinbase shares on Nasdaq has put the company’s valuation at $90 billion.

According to a Bloomberg report, sources close to the publication said that investors in a private auction had priced Coinbase shares at $350 each. The private auction on the Nasdaq Private Market ended on March 4.

Coinbase is one of the most valuable crypto companies in the market. The private sale is generally an indicator of public share price, though it can vary.

This will be the last round of private sales before the exchange goes public. Doing so makes the whole process cheaper, avoids share dilution, and is generally a sign of confidence from the company. Additionally, investors in Coinbase will not be subject to a share lockup period.

Coinbase announced in January that it would seek a direct listing as opposed to an Initial Public Offering (IPO). The SEC filing approval revealed that the stock will be listed as a Class A security under the ticker of “COIN.”

Coinbase is one of the most prominent crypto exchanges and its public listing is a milestone for the market. As many as eight other cryptocurrency firms are looking to go direct. These include the Gemini exchange, social trading platform eToro, and mining hardware manufacturer MicroBT.

This has partly been because of the crypto market’s massive rally over the past year. Emmanuel Goh, CEO of data aggregator Skew, told Bloomberg that “bellwether companies are already turning a profit.”

The arrival of institutional investments, which has been a major factor in the rally, is also behind the increased interest in Coinbase and other crypto IPOs. Savvy investors are hoping to leverage this increased interest in the crypto market.

The post Coinbase Private Sale Puts Its Valuation at $90 Billion appeared first on BeInCrypto.

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