THELOGICALINDIAN - Coinbase is shutting bottomward the startup Earncom which it acquired for an estimated 100 actor aftermost year The email account accustomed senders to pay users in agenda bill for acknowledging to bartering letters or commutual tasks
Also Read: Coinbase Acquires Earn.com for an Estimated $100 Million
Coinbase Says Goodbye to Earn.com
San Francisco-based cryptocurrency trading belvedere Coinbase has reportedly absitively to shut bottomward Earn.com (formerly accepted as 21 Inc). The barter notified audience of the accommodation via email, answer that it is “sunsetting Earn.com to focus alone on Coinbase Earn,” The Block reported on Monday. Users of the account were accustomed about two months’ apprehension until they accept abjure all their funds.
The aggregation additionally added that it affairs on “scaling Coinbase Earn alike added by abacus added campaigns to the platform, to affix added blockchain networks with affianced crypto users.” Coinbase Earn is a account meant to allurement bodies to apprentice added about new cryptocurrencies. The educational belvedere rewards users with tokens for commutual assorted tasks such as watching videos and demography quizzes on crypto-related content.
$100 Million Acquisition
The abstraction abaft Earn.com was acceptance senders to pay users in agenda bill for acknowledging to emails and commutual tasks, which is meant to account both accustomed email users and all-embracing senders of bartering emails. A accustomed email user could acquire crypto by acknowledging to emails and additionally use the amount of entering emails as a arresting to rank them by importance. Senders of bartering email could use Earn.com to pay users to get them to acknowledgment to letters regrading capacity such as recruiting, fundraising, and business which best users aloof clarify as spam beneath accustomed circumstances.
Coinbase alone appear that it had acquired Earn.com in April 2018. The two abandon accept not appear the banking capacity of the accord but it wa estimated at the time to be aloof aloft $100 million. This was appreciably lower than antecedent valuations for the startup and acquired a push-back from investors according to Silicon Valley media reports.
As allotment of the acquisition, Earn’s co-founder and CEO Balaji Srinivasan abutting Coinbase as the company’s aboriginal Chief Technology Officer (CTO). Earn.com promised its users at the time that it was not ”going down” or acutely changing. In fact, the aggregation claimed that the artefact was alone activity to get “bigger and better” as a aftereffect of this deal.
What do you anticipate about Coinbase shutting bottomward Earn.com? Share your thoughts in the comments area below.
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