Coinbase Global, Inc., also known as Coinbase is an American company that operates a cryptocurrency exchange platform. Although the company lacks a physical headquarters, it is the largest cryptocurrency exchange in the United States by trading volume. Eager to learn more, stay glued as we explore, the net worth, revenue, earnings, assets, and income of Coinbase.
How Much is Coinbase Worth?
- Founded: June 2012
- Founder: Brian Armstrong and Fred Ehrsam
- Industry: Cryptocurrency
- Net Worth: $36.48 Billion
- CEO: Brian Armstrong
How it Started
Founded in June 2012, by Brian Armstrong, a former Airbnb engineer, who enrolled in the Y Combinator startup incubator program and received a $150,000 cash infusion. Armstong was later joined by co-founder Fred Ehrsam. The company launched the services to buy and sell bitcoins through bank transfers in October 2012.
In May 2013, the company received a $5 million investment led by Fred Wilson from the venture capital firm Union Square Ventures. That same year, the company received a $25 million investment from several venture capital firms. Subsequently, the company hired its first employee, Olaf Carlson-Wee, a graduate of Vassar College.
In 2014, the company hit one million users and acquired the blockchain explorer service Blockr and the web bookmarking company Kippt. The company also partnered with other companies allowing them to accept bitcoin payments. It also added bitcoin payment processing capabilities to the traditional payment companies, Stripe, Braintree, and PayPal.
In January 2014, Coinbase Global, Inc. was incorporated in Delaware as a holding company for Coinbase and its subsidiaries. A year later, the company received a $75 million investment led by Draper Fisher Jurvetson. Subsequently, the company launched a US-based bitcoin exchange called Coinbase Exchange.
How it is Going
During the COVID-19 pandemic, the company shifted completely to remote work and no longer recognize a formal headquarters. In May 2020, the company acquired the New York-based digital asset trading firm Tagomi for a price between $75 and $100 million.
On April 14, 2021, Coinbase became a public company on the Nasdaq exchange via a direct stock listing. The company’s stake was set at $250 a share giving the company an estimated value of $47 billion. However, at the end of the first trading, Coinbase closed at $328.28 per share.
Who Owns Coinbase?
Coinbase is owned by hundreds of investors who have bought a share in the company. The company is a publicly-traded corporation with multiple owners
Brain Armstrong is the largest shareholder of Coinbase, he also doubles as the CEO of the company. Armstrong owns a stake of about 19% in Coinbase. Also, co-founder Fred Ehrsam although having left the company in 2017 still owns 6% of Coinbase and serves on the board of directors.
Coinbase Products
- Bitcoin
- Bitcoin Cash
- Ethereum
- Litecoin
- Exchange of Digital Assets
Coinbase Net Worth, Revenue, Assets, and Income 2023
As of 2023, Coinbase hаs an estimated net worth of $36.48 Billion. In the last year, the company had revenue of $7.84 billion. Coinbase also has an operating income of $3.08 billion and a net income of $3.62 billion.
The company’s total assets stood at 21.3 billion. What’s more, Coinbase has over 3,730 employees on its payroll.
Conclusion
Coinbase stock keeps on showing uncommon strength, making way for significantly greater expenses. As of 2023, Coinbase has a market cap of $36.48 Billion. This makes Coinbase one of the world’s most valuable cryptocurrency exchanges.
