COINBASE COULD ACQUIRE EARN.COM AS PART OF ITS NEW COMMERCIAL STRATEGY
The main US exchange house, Coinbase, could be about to acquire the company Earn.com, formerly called 21.co and recognized by its application to earn a few satoshis doing simple tasks.
The sources consulted by well-known media indicate that Earn.com could be acquired for $ 30 million dollars, although another indicates that a purchase would be made with cash, cryptocurrencies and shares of the stock market for more than $ 120 million dollars.
Although Coinbase, established in San Francisco, could be approaching the purchase, it is presumed that Earn.com evaluates the offers made by other recognized companies in the blockchain industry.
The potential acquisition of Earn.com by Coinbase could have to do with the appointment of Emilie Choi as corporate vice president and business development of this exchange house, since in the contract announcement, the acquisition of other companies was reflected as part of their strategy for this season.
Choi, before assuming her new position, was director of Business Mergers at LinkedIn, a company under which she oversaw close to 40 mergers and acquisitions, something that undoubtedly encourages the buying rumors of Earn.com by Coinbase. Particularly, it is known that the executive likes to hire part of the employees of the companies that she acquires, as she said in an interview; so, if the purchase is completed, it is a possibility that Earn.com CEO, Balaji Srinivasan, joins the ranks of Coinbase.
Earn.com, is a platform that allows its users to earn cryptocurrencies when answering emails and completing microtareas, such as conducting surveys. The service pays its users with bitcoin, and although it plans to develop its own cryptocurrency, it does not plan to make an Initial Currency Offer (ICO) for it. Founded in 2015 under the name of 21 Inc., this company raised $ 116 million in various rounds of financing, marking a record among the companies in the blockchain industry at the time.
Among similar purchases, highlights the purchase that the startup Circle, backed by Goldman Sachs, made of the Poloniex exchange for allegedly $ 400 million dollars, an acquisition that gave much to talk about the participation of traditional banks in the ecosystem of cryptocurrencies.