Coinbase IPO 2020 looks to be a close reality with the latest board reshuffle. Cryptocurrency exchange Coinbase now boasts Crypto Angel Mr. Marc Andreessen in its board of directors. Andreessen is a well known figure in Crypto space. He is the cofounder of Andreessen Horowitz and silicon-valley VC, that invest as Crypto Venture Capital Companies. This development sparks the conversation of Coinbase IPO, being close to public listing again.
Joining Andressen at the helm is another heavy hitter Mr. Gokul Rajaram. He is an executive at DoorDash, which is going to launch its own IPO soon. Rajaram also joins Coinbase’s board of directors. They replace Mr. Chris Dixon and Mr. Barry Schuler.
Who is Marc Andreessen?
Andreessen is a long time believer and heavy investor in cryptocurrency. His belief strengthened along the way, as he’s a successful early investor in Ethereum and Bitcoin.
Andreessen has a bunch of cryptocurrency projects under his Andreessen Horowitz investment wing. This includes DeFi lending Compound, DAI stablecoin governance firm Maker DAO and Crypto behemoth exchange Coinbase itself.
According to a statement to Fortune, “Since heavy investing in 2013 before parabolic growth, I’ve (Andreessen) seen the Crypto Exchange Coinbase grow humongously from an early stage start-up into a behemoth in crypto”.
Unicorn exchange Coinbase, with its headquarters in San Francisco, is the horse that will help propel Cryptocurrency into the mainstream.
What Is Happening To Coinbase IPO 2020?
The board changes erupts amidst rumors that Coinbase may soon go public. CryptoandFire had already written about the earlier developments in the space. Coinbase Inc has already entered into strategic conversation with law firms about the potential Coinbase IPO. Even as of now, they are yet to file their intention to go public with US SEC.
However, Coinbase may opt for direct listing instead of traditional IPO route. It’s $8 billion USD valuation is only growing stronger and they don’t want to waste money on underwriting by selling new shares. Instead, only existing shares come to the markets and trading begins.
Coinbase, with its headquarters in San Francisco, is bolstering its base, by adding Silicon Valley heavy hitters. This, coming just when the IPO rumors are spreading, tells me personally they may file their intent with US SEC any time soon.
I’m excited to see what route they end up taking, direct listing vs traditional IPO. The behemoth exchange will have a rocking start to its IPO, whenever it happens.