Last Updated: Tuesday, April 13th, 2021
What is Coinbase?
Coinbase is currently the largest cryptocurrency exchange platform in the United States (based on trading volume). Brian Armstrong, a former Airbnb engineer, founded the company in 2012, alongside former Goldman Sachs trader Fred Ehrsam.
Armstrong sees cryptocurrency as a solution to help solve the problem of lack of access to financial services for many people across the globe. Armstrong believes cryptocurrencies, like Bitcoin, will enable anyone anywhere in the world to “participate in the global economy” so long as they have a smartphone and an internet connection.
Here’s a well-done and concise video from Brian Armstrong back in 2018, where he explains his vision for the future with Coinbase and cryptocurrencies.
Who is Coinbase designed for?
Coinbase primarily serves two customer segments: retail investors (you and me) and institutional investors. The cryptocurrency company offers a variety of products to both segments.
I’m a Coinbase user and have loved Coinbase’s web and mobile applications since I started using the platform. Both are clean, easy-to-use, and fast.
It’s nearly effortless to view my portfolio and holdings, sort/filter the latest cryptocurrency prices, catch up on the latest industry news, and so on.
When will Coinbase go public?
Coinbase is set to IPO this Wednesday, April 14th. The company’s IPO will undoubtedly be one of the most attention-garnering IPOs of 2021.
Co-Founder and CEO Brian Armstrong is projected to become one of the richest people in tech following the IPO, as he owns nearly 40 million Coinbase shares, resulting in owning a stake around $13.6 billion, according to CNBC.
Coinbase will be trading under the ticker, COIN. What a perfect ticker, you know? Apparently there’s been some controversy around how the tech company scored the ticker…
A final note…another interesting thing about Coinbase is that the company is already profitable, reporting a net income of $322 million in 2020.
Recent, highly-anticipated tech company IPOs featured businesses not profitable just yet, like Snowflake’s IPO in September of last year.
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