Andreessen Horowitz Investee Coinbase May Purchase Andreessen Horowitz Investee Earn.Com (Né 21.Co)
Ha!
That's 1 agency to exit.
Earn.com was non mentioned inwards Apr 4's "Crypto M&A: "Three Startups Coinbase May Have Its Eye On"" because it's such a Tesla/SolarCity-cousins-shouldn't-marry type of deal.
Yet hither nosotros are. From Axios:
Coinbase is inwards talks to start Earn.com
We've been intrigued past times the oddity that is21.co Earn.com since the Financial Times' Izabella Kaminska pointed it out inwards a span 2015 posts:
That's 1 agency to exit.
Earn.com was non mentioned inwards Apr 4's "Crypto M&A: "Three Startups Coinbase May Have Its Eye On"" because it's such a Tesla/SolarCity-cousins-shouldn't-marry type of deal.
Yet hither nosotros are. From Axios:
Coinbase is inwards talks to start Earn.com
Digital currency telephone commutation Coinbase is withal inwards talks to start Earn.com, a paid inbox service formerly known every bit 21 inc., Axios has learned from multiple sources.
- No done bargain yet (or perchance ever), only electrical flow discussions are at a buy toll northward of $100 1000000 (plus administration earn-outs) amongst Coinbase insisting that Earn founder too CEO Balaji Srinivasan come upward over every bit CTO.
Why it matters: As 21, the society helped enhance the early on profile of Bitcoin amidst Silicon Valley investors.
- Andreessen Horowitz has stakes inwards both companies, too is said to lead maintain recused itself from board-level negotiations (although quondam A16Z partner Srinivasan remains a "board partner" amongst the firm).
- Earn originally originally was developing chips too hardware for cryptocurrency mining. It has since pivoted to crypto-based messaging technology, which some believe could someday hold out used to accept/decline online advertising.
- If the equity value ended at some $120 1000000 it would basically hold out break-even for Earn's Series C investors, given stock preferences, only before backers volition hold out easily inwards the dark because of Earn's early on cryptocurrency activities.
We've been intrigued past times the oddity that is
Sept. 23
"Announcing Coinbase Index Fund"
Coinbase, too the things Coinbase is doing look to hold out a to a greater extent than realistic agency for Andreessen Horowitz to brand money out of Bitcoin than their 21.Co. (see below)...
November 2017
So, What Has Andreessen Horowitz Crypto Investee 21.co Been Up To?
Not much.
We've been next this 1 for a span years (links below) too withal can't figure out how they convinced investors to pony upward $121,050,000 including the whopper $116mil., thirteen investor Series B atomic number 82 past times A16Z (CrunchBase)
That B circular unopen on March 10 2015 too the adjacent twenty-four hr menses Remember 21.Co, The Andreessen Horowitz Investee In Search Of Influenza A virus subtype H5N1 Business?
And create you lot call upward our "Marc Andreessen is tweeting again" postal service terminal month?
Here's the residual of the story....
For to a greater extent than on Coinbase meet January's:
"Coinbase Strategy Teardown: How Coinbase Grew Into The King Midas Of Crypto Doing $1B In Revenue"
Coinbase is the Andreessen Horowitz backed cryptocurrency play that's working out.
21.co is the 1 that isn't....
No comments