In line with a recent official tweet, the host of of the Crypto Traders show ‘Ran Neuner,’ on CNBC Africa, claims that major crypto exchange and wallet Coinbase is close to announce its 1st IPO [Initial Public Offering]. Neuner states that the main outlines on Coinbase’s IPO will be revealed on 26th Friday .i.e today., live to the CNBC’s Crypto trader show.
The host conjointly provided statistics on Coinbase’s revenue and account numbers in his post. The infographics show that several users on Coinbase has currently reached twenty five million, with 600,000 actively trading on the platform.
In line with the data revealed, the California-based crypto exchange ‘Coinbase’ has seen $90 Mln in revenue in its last quarter, with expectations to earn $450 Mln within the last quarter of 2018. 80% of its revenue came from customers, 15% additional from institutional accounts, along 5% from from other sources that was not disclosed by the company.
The president of Coinbase ‘Asiff Hirji’ primarily hinted regarding an associated IPO in late 2017. Once asked regarding the possibility of taking the company public, he added:
“It is definitely within the interest of our investors…and the foremost obvious path of Coinbase is to travel public at some point, however there’s heaps for us to try between now and then, whenever that date is.”
Earlier in Oct., U.S. tech media Recode cited 2 anonymous sources acquainted with the matter who said that Coinbase was close to finalize a deal that will value the company at around $8 Bln. Particularly, the crypto exchange was allegedly in talks with Tiger Global along with its current shareholders for an investment of up to $500 Mln.