Coinbase has confirmed today, October 26, that the company is currently planning an Initial Public Offering (IPO) of $500 million USD at a valuation of $8 billion USD. The rumor was already floating around the internet for the past 24 hours but it was finally confirmed by Ran Neuner, which had already spoken about it.
On Twitter, Ran Neuner has posted a video about the deal and broke down the company financially. The valuation of the company is ranging between 7.2 and 8 billion USD and the IPO will take place in two rounds which will be comprised of preferred equities and common stocks.
CNBC CRYPTO TRADER EXCLUSIVE: Coinbase Pre IPO Raise details.
We look at the numbers that make up the $8bn valuation.
We also ask @stevewoz why he is excited about Crypto.
Global Equities Crash Ahead in November – Good for Crypto?https://t.co/auDOBZfviS
— Ran NeuNer (@cryptomanran) October 26, 2018
AMB Crypto has affirmed that sources close to Coinbase have predicted that the IPO will beat all the predictions made by the market and the company. With 25 million registered users and at last 600,000 active traders on the platform, Coinbase is available in over 32 countries and has survived 2018 well for a year that saw the crash of the market.
Neuner has also talked about the revenue of Coinbase stating that 80% of the money comes from customers and 15% from Coinbase Pro’s institutional investors. The remaining 5% were from miscellaneous sources, according to the reports.
The commenter has also teased that Coinbase was rumored to be starting a custodian solution as well as many other projects.
Neuner has talked to Adam Draper, one of the initial Coinbase investors and he believes that Coinbase will be the platform in which everybody in the world will be at the future and will reach a trillion dollar valuation.
Will the future of the company be as bright as they believe? We have to wait for the IPO and see its results.