The stock market event of the year is finally here!
Coinbase, the largest cryptocurrency exchange platform in the US will begin trading on NASDAQ on April 14, under the symbol COIN. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam, and although it doesn’t have a physical headquarter it is operating in more than 100 countries. Coinbase ditched the classic initial public offering, opting for a direct listing, joining big names such as Spotify, Slack, and Roblox. According to its amended prospectus, 114,850,769 have been listed.
The company gained attention once the cryptocurrency market became more and more popular. According to its latest preliminary first quarter 2021 report, revenue figures came in at $1.8 billion, a significant increase from the $190.6 million reported at the end of 2020. The number of users surged more than 30% in the past three months, reaching 56 million.
Deposit now and get ready to trade Coinbase!
Many analysts believe that its valuation could go as high as $100 billion, making it the 13th most valuable financial services company in the US.
Coinbase’s shares Given that it chose to become public via a direct listing instead of an initial public offering, Goldman Sachs, JP Morgan, Allen & Co., and Citigroup will act as financial advisors, not bookrunners.
Visit our dedicated IPO page for more info about Coinbase!
Sources: sec.gov, investors.com, thefool.com
