Inside money, markets, and big tech

Coinbase’s latest funding deal makes it an $8B company

That's a roaring deal

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Coinbase looks to take a lion’s share of the market with a capital investment deal that could value the company at $8 billion.

The cryptocurrency exchange is in talks to finalize a deal with Tiger Global and other shareholders that could generate up to $500 million of investment, Recode reports.

Coinbase was valued at over $1.5 billion last year, and if current talks are successful, the company could realize an $8 billion valuation.

Coinbase expects to generate $250 million from new investments, with a further $250 million expected to come from existing investors. At present, these figures are merely estimates.

The San Francisco-based cryptocurrency exchange is already backed by the likes of Andreessen Horowitz, Greylock Partners, Draper Associates, and several others. Tiger Global seems intent on joining the list.

Tiger Global is a New York-based capital investment firm that is no stranger to investing in tech startups, having previously backed the likes of Airbnb. However, this would be the firm’s first foray into the world of cryptocurrency.

Over the last year, Coinbase has made strides to take cryptocurrency to a wider audience.

In September, it announced “Coinbase Bundles” which allows fledgling investors to get a taste of the market without having to worry about what coins to invest in.

With rumors of a Coinbase IPO ever present, one wonders if bringing Tiger Global into the Coinbase investor family is really a way of prepping itself for going public.

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Published October 3, 2018 — 13:29 UTC