Coinbase information for direct itemizing after income greater than doubles in 2020
Coinbase co-founder and CEO Brian Armstrong talking at TechCrunch Disrupt SF 2018.
Steve Jennings | Getty Pictures for TechCrunch
Cryptocurrency change Coinbase on Thursday filed to develop into a public firm and revealed that its income greater than doubled final 12 months.
In keeping with the submitting, Coinbase had web income of $1.14 billion in 2020, up from $483 million the earlier 12 months. The corporate additionally reported web earnings of $322 million for the 12 months after posting a loss in 2019.
The corporate mentioned it has 43 million verified customers as of the top of 2020, with 2.eight million making month-to-month transactions. Buying and selling in bitcoin and ethereum made up 56% of customers’ buying and selling quantity, Coinbase mentioned.
The corporate will use a direct listing to offer its shares as an alternative of a standard preliminary public providing.
A direct itemizing is an alternative choice to an IPO, and it entails buyers and workers changing their possession stakes into inventory that is listed on an change.
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