This IPO has it all; electronic money, 100 billion dollars valuation, financial market inflection point, Kelly Loeffler, billionaire mint, famous venture capitalist, basketball star… Nas.
Coinbase cryptocurrency exchange
decommissioned and operated as a public company after the largest direct listing in U.S. market history, but apart from co-founders Brian Armstrong and Fred Ehrsam, the biggest winners on stocks The upside is the company’s early investors, a well-known group of names put together that would be like the strangest cocktail party ever put together.
After Armstrong left Airbnb to build a cryptocurrency trading platform in 2012, he found a refugee partner at the Goldman Sachs trading desk Ehrsam and two men who signed up for the garden. Leading tech incubator Y Combinator, where their project caught the eye of a group of seed investors including Reddit co-founder Alexis Ohanion, who helped Coinbase grow five years before he became Mr. Serena Willams.
That seed round has caught the interest of Union Square Ventures venture capital giant Fred Wilson, advertising Andreessen Horowitz’s Marc Andreessen, who plays a pivotal role in Series A and B fundraising rounds. by Coinbase.
Another participant in the $ 25 million Series B round is QueensBridge Venture Partners, the company that boasts Nasir Jones, also known as the legendary Nas hip hop, as the partner.
When Coinbase resumed its private equity business in early 2015, Wilson and Andreessen were there again to lead a $ 75 million turnaround from a pool of investors including crypto backer Tim Draper and His son is Adam. Also throwing a few dollars for a piece of Coinbase is the New York Stock Exchange, where president Jeffrey Sprecher is married to former US Senator Kelly Loeffler.
Coinbase is listed on the Nasdaq.
Coinbase’s $ 108 million Series D is the private equity equivalent of a late night club in Manhattan’s Meatpacking District.
In addition to PayPal billionaire and LinkedIn co-founder Reid Hoffman, Coinbase’s 2017 fundraising round also features hedge fund manager Dmitry Balyasny, Google Ventures founder Bill Maris, strategist. politics and investor Bradley Tusk and NBA superstar Kevin Durant.
All of these investors achieved an after-money valuation of $ 1.6 billion, meaning their holdings rose 6,150% thanks to Wednesday’s $ 100 billion IPO.
The last bold name to join Coinbase in the private market was hedge fund billionaire Chase Coleman, who joined the 2018 $ 300 million Series E through Tiger Global Management worth $ 50 billion. mine.
If only the social distancing did not prevent seeing all these faces gather together and congratulate them on their big scores.