Coinbase is quickly ramping up its merger and acquisition operations, to be the cryptocurrency exchange and brokerage giant announced on Monday going without shoes has completed its second acquisitions in quite a few weeks: bitcoin startup Earn.com.
The paid messaging platform — that was originally incarnated being a bitcoin mining startup called 21.co — rewards users with cryptocurrency for answering emails, finishing surveys, and completing other micro-tasks.
Terms of this deal aren’t made public, but Earn.com CEO Balaji S. Srinivasan wrote in the blog post that “the total valuation of cash, cryptocurrency, and equity returned for your shareholders is right now in excess of money invested in the organization.”
The company had raised approximately $116 million over multiple funding rounds and also at one point was the industry’s best-funded startup. Sources on the discussions had previously announced that the deal may likely exceed that figure, all this comment shows that it was a minimum of in the same ballpark.
Srinivasan will join Coinbase to be a senior executive, becoming yourrrre able to send first chief technology officer, whilst the rest of the Earn.com team may also join the firm and work to integrate you can actually paid messaging platform into Coinbase’s infrastructure.
“If we’re successful in the long-term goals, as well as able to turn the many billions of smartphones worldwide in to a new source of work. Open the Earn.com app in different country?-?and obtain personalized, targeted number of paid microtasks and emails just by you,” the firm wrote inside a blog post. “Thanks within the blockchain, anywhere we have a phone, there might be a job.”
The acquisition was the actual announced by Coinbase in April alone.
As BlockExplorer reported, Coinbase announced last month that it had acquired Cipher Browser, a one-man startup which had built a mobile ethereum wallet and decentralized application (DApp) browser. Cipher’s developer, Peter Kim, joined the business as the engineering team lead for Toshi, Coinbase’s ethereum wallet and DApp browser.