Coinbase's valuation rose to 100 billion US dollars, setting a new record since Facebook's listing
With the long-awaited direct listing of Coinbase approaching, those investors with deep pockets seem to be eager to acquire the equity of Coinbase.
According to the data compiled by The Block, the average clearing price of Nasdaq private market shares has continued to rise since Coinbase started its first secondary sale four weeks ago. The latest clearing price is $373 per share, which means that Coinbase is valued at about $100 billion.
According to the data shared with The Block, this is significantly higher than the first average settlement price of $200 in January.
According to the previous report on January 22nd, Coinbase told its shareholders that it would launch the secondary market of its private equity in Nasdaq private equity market before public listing. This process allows former employees and investors of cryptocurrency exchanges to sell their shares.
Stock sale: Coinbase sold its shares for the second time last month through Nasdaq Private Equity Market (also known as Secondary Market), providing up to 1.8 million shares every week. The purpose is to help Coinbase determine the reference price of its public offering, and the listing process of Coinbase will be completed through direct listing instead of IPO.
The first 75,000 shares were sold on January 29th at a price of US$ 200 per share. Coinbase's valuation reached nearly $54 billion, while Coinbase gained $8 billion in the previous round of venture capital at the end of 2018.
The next two batches were sold for $301 and $303 respectively.
Last Friday, the latest batch of 127,000 shares was sold at a price of US$ 373, with an estimated value of US$ 100.23 billion.
Coinbase is valued at $100 billion, what does this mean?
Coinbase's estimate of $100 billion was also confirmed by Axios. Axios said that this means that since Facebook, the initial valuation of Coinbase's listing may be higher than that of any other American technology company.
According to the data, according to the documents shared with investors, the net income of Coinbase in the first nine months of 2020 is 141 million US dollars, and the total income is 691 million US dollars.
The company disclosed a net loss of $30 million and a revenue of $530 million in 2019.
None of these income figures include 2021. In 2021, the price and trading volume of Bitcoin have both increased dramatically, which has brought a very positive impact on Coinbase.