Top U.S. cryptocurrency exchange Coinbase is reportedly poised to acquire Silicon Valley tech startup Koding, a cloud development play that allows coders to collaborate remotely in real time. They had recently hired Emilie Choi as the new boss of M&A, who was famous for her aggressive approach as the head of Corporate and Business Development in Linkedin. Now similar philosophy can be noticed at Coinbase, by addition of Koding furthering that narrative.
This would mark the third tech acquisition that Coinbase has made in recent days following agreements with Earn.com, a paid email, and microtasks platform, and CipherBrowser, an Ethereum-based DApp browser.
It will be absorbing to see how Coinbase merges the operation of Koding into their own ecosystem. Koding’s platform lets your organization create and share fully automated dev environments on any infrastructure for modern distributed applications, microservices, and containers. So Coinbase could commercialize that suite while using it to facilitate the activities of its own newly-launched Coinbase Protocol team, for example.
Varun Srinivasan, Coinbase’s Engineering Director mentioned in a blog post that Coinbase wanted to intensify cross-project technical collaborations in the crypto verse. They had been looking at projects like payment channels, off-chain computation, trustless light clients and proof-of-stake blockchains. They want to promote collaboration and cross-pollination of ideas by working with different development teams. These goals of Coinbase looks like the mission that Koding has been acquired to solve.
It is important to note that there have been no official statements till date and there has been no response from Emily Choi, Coinbase CEO Brian Armstrong, and Koding CEO Devrim Yasar.