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
