Coinbase has made its fifth acquisition with which comes just a week after they acquired Cipher Browser.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.

The announcement comes from Coinbase CEO Brian Armstrong declaring it in a blog post on April 16, 2018. In addition to the acquisition, they have welcomed the entire team and made’s founder and CEO their first CTO. Most of Coinbase’s acquisitions are centered around talent. started off as 21 Inc making a Raspberry Pi connected to a bitcoin-mining ASIC which could build bitcoin miners into devices people already use. After rebranding itself as they ended support for its Bitcoin Computer to focus on allowing users to monetize their email and social media channels instead. Currently, pays users in bitcoin, but the company has also developed its own Ethereum-based ERC20 token so that when people completed tasks in, they can earn rewards in tokens.

The goal of the merger is to take and scale it up across Coinbase’s massive user base. With this deal, the total value of cash, cryptocurrency, and equity returned to our shareholders is now in excess of the capital invested in the company. As much as the deal is significant for Coinbase to improve its business model, perhaps of more significance is what Srinivas does in his new role.

The price tag of a $120 million for raised a few eyebrows. They have raised $310 million in funding and have a positive cashflow too. It was estimated that they should be valued at a much higher price.


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