Coinbase acquires for an estimated value of $ 100 million dollars

Coinbase acquires for an estimated value of $ 100 million dollars

The exchange of cryptocurrencies based in San Francisco, Coinbase announced today that it acquired (formerly known as 21 Inc). As we reported in the past, the service allows senders to pay users in cryptocurrency to answer emails and complete tasks.
Coinbase CEO Brian Armstrong said: ” We are going to double Earn’s business within Coinbase, since they have created a paid email product that is possibly one of the first practical applications of Blockchain to achieve significant traction. ”
As part of the acquisition, Earn’s co-founder and CEO, Balaji Srinivasan, will join Coinbase as the company’s first Technology Director (CTO). Armstrong added that: “As CTO of Coinbase, Balaji will have an important role as a technological evangelist for the company. Balaji will evangelize both for crypto and for Coinbase, educating the world and recruiting the first talents for the company. ”
The companies have not disclosed the financial details of the agreement, but it is estimated to be just over $ 100 million. This is considerably lower than the previous valuations for Earn and caused a reversal of the investors, this the media Recode of Silicon Valley.
For his part, Earn explained to his users today that he is not yet “going down” or changing drastically. In fact, they promised that the product will only become “bigger and better” as a result of this deal. The company reports that hundreds of thousands of users have earned digital money with Earn so far, earning millions of dollars.
The team wrote today that “everything will continue as before in the short term, with one exception: we have put our token release in the background and instead we will focus on the integration with the Coinbase infrastructure and the expansion of our service. You can guess what this will enable, but stay tuned anyway as you will be surprised!

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