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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. 
Images courtesy of Shutterstock.
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.

Iran Considers Using Cryptocurrencies to Evade US Sanctions
Iran Considers Using Cryptocurrencies to Evade US Sanctions

Iran may employ cryptocurrencies as part of its efforts to circumvent the upcoming US sanctions, according to a high-ranking Iranian lawmaker who said the matter will be discussed in parliament soon. The Iranian MP also believes that digital money can help with overcoming the hegemony of the US doll...

17.07.2018, 03:55Read more
P2P Markets Report: Latin American and Hungarian Volume Surges
P2P Markets Report: Latin American and Hungarian Volume Surges

Latin American peer-to-peer (P2P) markets have seen an influx of volume in recent weeks, with the Localbitcoins markets of Argentina, Brazil, and Venezuela posting significant spikes in volume. In other news pertaining to international P2P markets, the Hungarian Localbitcoins markets produced near-r...

17.07.2018, 01:55Read more
G20 Watchdog Unveils Framework to Monitor Crypto
G20 Watchdog Unveils Framework to Monitor Crypto

A framework has been developed for the G20 countries to “monitor the financial stability implications of crypto-assets markets.” The Financial Stability Board says cryptocurrencies “do not pose a material risk to global financial stability” but supports their “vigilant monitoring.” Also read: Yahoo!...

16.07.2018, 23:55Read more
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