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Coinbase Acquires Earn.com for an Estimated $100 Million

Coinbase Acquires Earn.com for an Estimated $100 MillionCoinbase has completed the acquisition of Earn.com, an app that lets users get cryptocurrency for answering emails and completing tasks. The Earn startup team joins the company and the founder will serve as its first CTO, as part of the deal. Also Read: Blockchain Mining Completes Bitfarms Merger, Stock Jumps 49%

Coinbase’s Latest Acquisition

Coinbase Acquires Earn.com for an Estimated $100 MillionSan Francisco-based cryptocurrency exchange Coinbase has announced today that it has acquired Earn.com (formerly known as 21 Inc). As we reported in the past, the service allows senders to pay users in cryptocurrency to reply to emails and complete tasks. Coinbase CEO Brian Armstrong said: “We’re going to be doubling down on the Earn business within Coinbase, as they have built a paid email product that is arguably one of the earliest practical blockchain applications to achieve meaningful traction.” As part of the acquisition, Earn’s co-founder and CEO, Balaji Srinivasan, will join Coinbase as the company’s first Chief Technology Officer (CTO). Armstrong added that: “As CTO of Coinbase, Balaji will serve an important role as the technological evangelist for the company. Balaji will evangelize for both crypto and for Coinbase, educating the world and recruiting crypto-first talent to the company.” The companies have not revealed the financial details of the deal but it is estimated to be just above $100 million. This is considerably lower than previous valuations for Earn and caused a push-back from investors, this according to Silicon Valley media recode.

Token Launch Put on Hold

Coinbase Acquires Earn.com for an Estimated $100 MillionAsiff Hirji , Balaji Srinivasan  and Brian Armstrong For its part, Earn explained today to its users that it is not ”going down” or drastically changing just yet. In fact, they promised that the product is only going to get “bigger and better” as a consequence of this deal. The company reports that hundreds of thousands of users have earned digital currency 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’ve put our token launch on the back burner and will instead focus on integrating with Coinbase’s infrastructure and scaling up our service. You might be able to guess what this will enable, but stay tuned anyway as you might be surprised!” What bitcoin startup should Coinbase snap up next? Share your thoughts in the comments section below. 
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Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics. The post Coinbase Acquires Earn.com for an Estimated $100 Million appeared first on Bitcoin News.

Thai SEC: Only Seven Crypto Firms Authorized to Legally Operate in Thailand
Thai SEC: Only Seven Crypto Firms Authorized to Legally Operate in Thailand

The Thai Securities and Exchange Commission (SEC) has announced the names of seven cryptocurrency firms that have been authorized to legally operate in the country. Five of them are crypto exchanges; two are cryptocurrency dealers. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Seve...

16.08.2018, 06:25Read more
Bitangels Co-Founder Sues AT&T for $224 Million Over Cryptocurrency Hack
Bitangels Co-Founder Sues AT&T for $224 Million Over Cryptocurrency Hack

The cryptocurrency investor Michael Terpin is suing the large telecom firm AT&T because his mobile phone was compromised by hackers who stole $24M USD worth of digital assets. Terpin says he was hacked twice in less than a year and employees at AT&T participated in a SIM swap fraud. Also rea...

16.08.2018, 04:25Read more
Five Benefits to a Bear Market
Five Benefits to a Bear Market

We’ve been in a slump for a while now, and by the looks of it will remain in one for a good while longer. How long, how low, and how slow the recovery is anyone’s guess. If you’re reading these words, you’re still here, and thus it’s safe to assume you’re in this for the […] The post Five Bene...

16.08.2018, 02:05Read more
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