Is Coinbase ready for IPO?

October 25, 2018
Darya Karatkevich

According to CNBC host Ran Neuner, Coinbase might be preparing for an initial public offering (IPO). The TV host ‘leaked’ several slides of today’s Cryptotrader show to his Twitter account. According to the slides, Coinbase has over 25 million accounts currently registered on the platform. 7 million of them have a 0 balance, while 600,000 are being used daily for trades.

Coinbase ready for IPO

According to the Washington Post report earlier in May, Coinbase had over 20 million accounts at that time. As confirmed by Coinbase CEO Brian Armstrong, by the end of 2017 they had over 50,000 new accounts being registered on the platform daily.

Additionally to the number of accounts on the trading platform, Neuner also revealed the information about Coinbase revenue. In the third quarter of 2018 Coinbase made $90 million, as opposed to $450 million in the fourth quarter of 2017. 80% of the company’s revenue consists of retail clients, 15% came from Coinbase Pro (the platform dedicated to servicing institutional investors), and 5% came from other sources.

According to Recode, the company’s valuation might be close to $8 billion. Additionally, financial analysts estimate that Coinbase might have attracted over $500 million just recently through the new investors from multibillion fund Tiger Global.

Post written by Darya Karatkevich
Darya is a blockchain market observer with 5+ years of experience as an author and editor for major tech blogging platforms. Her fortes are blockchain technologies and solutions, cryptocurrencies and crypto-related regulations.

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