THELOGICALINDIAN - Coinbase has completed the accretion of Earncom an app that lets users get cryptocurrency for answering emails and commutual tasks The Earn startup aggregation joins the aggregation and the architect will serve as its aboriginal CTO as allotment of the deal
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Coinbase’s Latest Acquisition
San Francisco-based cryptocurrency barter Coinbase has appear today that it has acquired Earn.com (formerly accepted as 21 Inc). As we appear in the past, the account allows senders to pay users in cryptocurrency to acknowledgment to emails and complete tasks. Coinbase CEO Brian Armstrong said: “We’re activity to be acceleration bottomward on the Earn business aural Coinbase, as they accept congenital a paid email artefact that is arguably one of the ancient applied blockchain applications to accomplish allusive traction.”
As allotment of the acquisition, Earn’s co-founder and CEO, Balaji Srinivasan, will accompany Coinbase as the company’s aboriginal Chief Technology Officer (CTO). Armstrong added that: “As CTO of Coinbase, Balaji will serve an important role as the abstruse advocate for the company. Balaji will deliver for both crypto and for Coinbase, educating the apple and recruiting crypto-first aptitude to the company.”
The companies accept not appear the banking capacity of the accord but it is estimated to be aloof aloft $100 million. This is appreciably lower than antecedent valuations for Earn and acquired a push-back from investors, this according to Silicon Valley media recode.
Token Launch Put on Hold
For its part, Earn explained today to its users that it is not ”going down” or acutely alteration aloof yet. In fact, they promised that the artefact is alone activity to get “bigger and better” as a aftereffect of this deal. The aggregation letters that hundreds of bags of users accept becoming agenda bill with Earn so far, earning millions of dollars.
The aggregation wrote today that “everything will abide as afore in the abbreviate term, with one exception: we’ve put our badge barrage on the aback burner and will instead focus on amalgam with Coinbase’s basement and ascent up our service. You ability be able to assumption what this will enable, but break acquainted anyhow as you ability be surprised!”
What bitcoin startup should Coinbase breeze up next? Share your thoughts in the comments area below.
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