34 days ago • Posted by Jasper Lawler
Coinbase IPO Today - Could valuation go to $200 billion?
Coinbase, the San Francisco-based cryptocurrency exchange, is going public today [April 14]. The company will trade under the ticker COIN and list 114,850,769 shares on the NASDAQ with an initial valuation of $100 billion.
It has just reported preliminary results for the first quarter of 2021, with revenue surging to $1.8 billion. This is a ninefold increase from the first quarter in 2020 and more than the $1.3 billion that the company made in the whole of 2020. Net income for the first quarter is expected to be in the range of $800 million, compared to $322 million in calendar 2020. In the past three months alone, the verified userbase has risen 30% to 56 million people.