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Coinbase Private Sale Puts Its Valuation at $90 Billion

1 min
Updated by Kyle Baird
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In Brief

  • A Nasdaq private sale saw Coinbase shares sold at $350.
  • The price would put Coinbase’s valuation at a staggering $90 billion.
  • Several more crypto companies are also seeking public listings.
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A private auction of Coinbase shares on Nasdaq has put the company’s valuation at $90 billion.

According to a Bloomberg report, sources close to the publication said that investors in a private auction had priced Coinbase shares at $350 each. The private auction on the Nasdaq Private Market ended on March 4.

Coinbase is one of the most valuable crypto companies in the market. The private sale is generally an indicator of public share price, though it can vary.

This will be the last round of private sales before the exchange goes public. Doing so makes the whole process cheaper, avoids share dilution, and is generally a sign of confidence from the company. Additionally, investors in Coinbase will not be subject to a share lockup period.

Coinbase announced in January that it would seek a direct listing as opposed to an Initial Public Offering (IPO). The SEC filing approval revealed that the stock will be listed as a Class A security under the ticker of “COIN.”

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Coinbase is one of the most prominent crypto exchanges and its public listing is a milestone for the market. As many as eight other cryptocurrency firms are looking to go direct. These include the Gemini exchange, social trading platform eToro, and mining hardware manufacturer MicroBT.

This has partly been because of the crypto market’s massive rally over the past year. Emmanuel Goh, CEO of data aggregator Skew, told Bloomberg that “bellwether companies are already turning a profit.”

The arrival of institutional investments, which has been a major factor in the rally, is also behind the increased interest in Coinbase and other crypto IPOs. Savvy investors are hoping to leverage this increased interest in the crypto market.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.

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Rahul Nambiampurath
Rahul Nambiampurath's cryptocurrency journey first began in 2014 when he stumbled upon Satoshi's Bitcoin whitepaper. With a bachelor's degree in Commerce and an MBA in Finance...
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