Coinbase Becomes First Bitcoin "Unicorn" After Completing $100 MM Raise
Coinbase recently completed a $100MM raise in a Series D funding round that was led by IVP. The round also saw participation from Spark Capital, Greylock Partners, Battery Ventures, Section 32 and Draper Associates. This latest round brings their current valuation to $1B thus making them the first Bitcoin "unicorn" as per the commonly accepted meaning of the word.
Coinbase's last raise was 30 months ago when they raised $75MM in a Series C round that brought their valuation to nearly half a billion dollars. This latest round should allow the company to pursue the strategy that CEO Brian Armstrong referred to as The Coinbase Secret Master Plan nearly a year ago.
In the post, Armstrong referred to the 4 major phases that the digital currency industry would travel through (see chart below from the Sept 7, 2016 blog post before the industry reached a relative level of maturity. Please follow The Binary Lawyer for up-to-the minute coverage of the digital currency industry.
Links:
https://themerkle.com/coinbase-is-officially-bitcoins-first-billion-dollar-company-raises-100-million
https://blog.coinbase.com/the-coinbase-secret-master-plan-f4d644443301
Congratulations @binarylawyer! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPCongratulations @binarylawyer! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!