Coinbase Becomes First Bitcoin ‘Unicorn’

[alyssa85]

http://fortune.com/2017/08/10/bitcoin-coinbase-unicorn/

A Bitcoin company has finally attained the "unicorn" title, an honorific bestowed upon startups valued at more than $1 billion.

Coinbase, a brokerage that established itself as one of the biggest brands in a now-booming cryptocurrency market, has raised $100 million at a private valuation of $1.6 billion that includes the capital raised, the company tells Fortune. The venture capital firm Institutional Venture Partners led the round with participation by Spark Capital, Greylock Partners, Battery Ventures, Section 32, and Draper Associates.

Coinbase had for months been rumored to be raising around $100 million at a valuation of $1 billion or more, as the Wall Street Journal reported in June. That deal, its fourth, is now final.

In previous rounds, Coinbase had raised a total of $117 million at a private valuation approaching $500 million, as Fortune reported. That sum already made it one of the most well financed Bitcoin ventures around, next to Circle and 21.

[Scorpion]

Congratulations to Coinbase and their team. I know they struggled a little bit with some service issues and customer services but they've taken steps to improve in those areas. They were really trying hard to get that $1 billion valuation so I am happy for them. I gotta give them credit because they have helped me and my friends make a pretty penny so hats off to them - gotta give credit where credit is due!

[MissHope]

It is really positive news, almostly after they have some problems with their users and Bitcoin Cash. How do you think, when will appear the second Bitcoin unicorn?

[dothebeats]

Goes to show how financial magnates acknowledge the booming crypto market. Well done for Coinbase amidst the not so positive reaction from its peers during the August 1st split. Because of this, many venture capitalists will eye more bitcoin-related ventures/startups. This potentially opens up a new possibility for a wider and bigger economic stimulation for bitcoin.

Hurrah!

[blockchaingo]

Great news for all crypto community members

[Dendron]

Great, these are good news. Even though I do not like them because they are compliant with the government, some people like them are needed I guess to establish Bitcoin as something mainstream.

[davis196]

It is really positive news, almostly after they have some problems with their users and Bitcoin Cash. How do you think, when will appear the second Bitcoin unicorn?

The most important question is not "when it will appear?",it`s "who will be?".
I`m pretty sure that the next unicorn will be some of the other  big cryptocurrency exchange platforms.
I`m waiting for the first 1 billion USD ICO (it`s sad that ICOs are not always related with bitcoin).

[HippiePyro]

That is fantastic, and very exciting. Now if they can use that money to fix some server issues.... maybe quit crash when the price does.

[Nameless27]

It was a mind blowing news, COINBASE seem to be one of icon of Blockchain technology's. Hope at this moment they lessen and listen to there users complaint and act to it the fastest way.

[jtipt]

It's great news, we'll it's not surprising to see coinbase as the first 'unicorn' coinbase is actually very popular. I would had guessed coinbase to be the highest valued company in BTC area.

[Hazir]

Congratulations, Coinbase. I expected this to happen sooner or later. I wonder which company will become the next 'Unicorn' of cryptocurrency?
Do you have any picks guys? Maybe some of the exchanges: Bitfinex, Kraken, Bitstamp, Gemini - I know they are nowhere near Coibase bu maybe someday...

[Juggy777]

http://fortune.com/2017/08/10/bitcoin-coinbase-unicorn/

A Bitcoin company has finally attained the "unicorn" title, an honorific bestowed upon startups valued at more than $1 billion.

Coinbase, a brokerage that established itself as one of the biggest brands in a now-booming cryptocurrency market, has raised $100 million at a private valuation of $1.6 billion that includes the capital raised, the company tells Fortune. The venture capital firm Institutional Venture Partners led the round with participation by Spark Capital, Greylock Partners, Battery Ventures, Section 32, and Draper Associates.

Coinbase had for months been rumored to be raising around $100 million at a valuation of $1 billion or more, as the Wall Street Journal reported in June. That deal, its fourth, is now final.

In previous rounds, Coinbase had raised a total of $117 million at a private valuation approaching $500 million, as Fortune reported. That sum already made it one of the most well financed Bitcoin ventures around, next to Circle and 21.

That's nice to read, coinbase.com is one of the best popular site and it will be memorable for me, since I got my very first satoshi's through it. That time when all were charging fees, they choosed not to charge. I could send 1-5$ and it would go without fees. Those were the days, though I had not encountered any problems, but considering it was a exchange I finally moved on. But I liked the UI and I am very happy that they are making some serious money and hope they continue as usual.

[buwaytress]

Despite my personal distaste for the way Coinbase and the Blockchain Alliance keep making moves on regulating Bitcoin, you can't fault their tactics and approach as a business. A tiny, little bit more professional than the likes of Polo, formal relationships with financial institutions and being the first to get US regulatory approval... their success is well deserved.

Got to "love" their corporate stamp on Bitcoin too...

[LeGaulois]

In hope, they start to use their funds to improve their horrible customers support maybe. Because for this, they surely don't deserve anything. Or maybe a medal for the worst. There is a lot to do to improve this side

[freeyourmind]

Coinbase was the first wallet I used for Bitcoin, and I think it's still popular for people starting to get into cryptocurrencies, but in my experience the service needs to be improved to keep customers from migrating to other wallets or exchanges.

[paragoncoin]

That is some very exciting news. Well done

[Yakamoto]

http://fortune.com/2017/08/10/bitcoin-coinbase-unicorn/

A Bitcoin company has finally attained the "unicorn" title, an honorific bestowed upon startups valued at more than $1 billion.

Coinbase, a brokerage that established itself as one of the biggest brands in a now-booming cryptocurrency market, has raised $100 million at a private valuation of $1.6 billion that includes the capital raised, the company tells Fortune. The venture capital firm Institutional Venture Partners led the round with participation by Spark Capital, Greylock Partners, Battery Ventures, Section 32, and Draper Associates.

Coinbase had for months been rumored to be raising around $100 million at a valuation of $1 billion or more, as the Wall Street Journal reported in June. That deal, its fourth, is now final.

In previous rounds, Coinbase had raised a total of $117 million at a private valuation approaching $500 million, as Fortune reported. That sum already made it one of the most well financed Bitcoin ventures around, next to Circle and 21.

My only question for this now is, why?

Coinbase really isn't anything special beyond being an online wallet and exchange service, and it doesn't even operate as the largest exchange from what I remember seeing. It definitely doesn't look like they have an exchange volume rivaling a lot of other places, and there are a lot more trading options and the like on other exchanges. Their service keeps getting worse too.

If anything, Coinbase is only valued at $1B USD because companies keep pumping money into it because it's one of the few American startups for Bitcoin. Not much to it otherwise.

[paragoncoin]

http://fortune.com/2017/08/10/bitcoin-coinbase-unicorn/

A Bitcoin company has finally attained the "unicorn" title, an honorific bestowed upon startups valued at more than $1 billion.

Coinbase, a brokerage that established itself as one of the biggest brands in a now-booming cryptocurrency market, has raised $100 million at a private valuation of $1.6 billion that includes the capital raised, the company tells Fortune. The venture capital firm Institutional Venture Partners led the round with participation by Spark Capital, Greylock Partners, Battery Ventures, Section 32, and Draper Associates.

Coinbase had for months been rumored to be raising around $100 million at a valuation of $1 billion or more, as the Wall Street Journal reported in June. That deal, its fourth, is now final.

In previous rounds, Coinbase had raised a total of $117 million at a private valuation approaching $500 million, as Fortune reported. That sum already made it one of the most well financed Bitcoin ventures around, next to Circle and 21.

My only question for this now is, why?

Coinbase really isn't anything special beyond being an online wallet and exchange service, and it doesn't even operate as the largest exchange from what I remember seeing. It definitely doesn't look like they have an exchange volume rivaling a lot of other places, and there are a lot more trading options and the like on other exchanges. Their service keeps getting worse too.

If anything, Coinbase is only valued at $1B USD because companies keep pumping money into it because it's one of the few American startups for Bitcoin. Not much to it otherwise.

I think the answer to "why now?" is right in your question. Interest from the American public in crypto  is skyrocking-- Coinbase seems pretty tailored to that first American time investor and is somewhat predictably riding that wave...

[Kemarit]

In hope, they start to use their funds to improve their horrible customers support maybe. Because for this, they surely don't deserve anything. Or maybe a medal for the worst. There is a lot to do to improve this side

Improved their customers services and network infrastructure as well. This two is very important as their business is booming because people are going crazy about it right now. Improvements like server uptime and customer service should be there no. 1 priority now. But still a good accomplished and congrats to Coinbase.

http://fortune.com/2017/08/10/bitcoin-coinbase-unicorn/

A Bitcoin company has finally attained the "unicorn" title, an honorific bestowed upon startups valued at more than $1 billion.

Coinbase, a brokerage that established itself as one of the biggest brands in a now-booming cryptocurrency market, has raised $100 million at a private valuation of $1.6 billion that includes the capital raised, the company tells Fortune. The venture capital firm Institutional Venture Partners led the round with participation by Spark Capital, Greylock Partners, Battery Ventures, Section 32, and Draper Associates.

Coinbase had for months been rumored to be raising around $100 million at a valuation of $1 billion or more, as the Wall Street Journal reported in June. That deal, its fourth, is now final.

In previous rounds, Coinbase had raised a total of $117 million at a private valuation approaching $500 million, as Fortune reported. That sum already made it one of the most well financed Bitcoin ventures around, next to Circle and 21.

My only question for this now is, why?

Coinbase really isn't anything special beyond being an online wallet and exchange service, and it doesn't even operate as the largest exchange from what I remember seeing. It definitely doesn't look like they have an exchange volume rivaling a lot of other places, and there are a lot more trading options and the like on other exchanges. Their service keeps getting worse too.

If anything, Coinbase is only valued at $1B USD because companies keep pumping money into it because it's one of the few American startups for Bitcoin. Not much to it otherwise.

I think the answer to "why now?" is right in your question. Interest from the American public in crypto  is skyrocking-- Coinbase seems pretty tailored to that first American time investor and is somewhat predictably riding that wave...

Correct, with the skyrocketing publicity or promotion regarding crypto investors its about time that big companies take notice and willing to put investments into the Coinbase. And this new fresh investment, a lot is stake right now and we as customers should be expecting at least a improvement of their services in the next couple of months.

[HabBear]

This is a great milestonevto validate Bitcoin and related companies in the eyes of the business workd. However, there's a lot of complaining anout Coinbase on this forum. The company needs to listen to these complaints and change their internal practices to better meet the service and issue resolution neefs of their customers. If they can do that, they'll soar. Provided the US government doesn't make conducting bitcoin banking illegal!