9 Numbers to Know About Coinbase Before It Goes Public
Coinbase recently filed its widely anticipated registration statement, offering a first glance at its financials before it goes public. The largest cryptocurrency exchange in the U.S. is planning a direct listing on the Nasdaq in which it will seek to raise as much as $1 billion. Coinbase was recently valued at more than $100 billion in private market trading, meaning this could be the largest tech IPO since Facebook's in 2012.
Here are nine numbers you will want to know about Coinbase before you buy shares.
This is the profit Coinbase generated in 2020, a sharp improvement from the company's $30 million loss in 2019. The big increase, of course, has to do with the surging popularity of Bitcoin (CRYPTO: BTC), whose value rose almost 500% from its depths last March to finish the year over $29,000. Most of Coinbase's revenue comes from transaction fees the company collects processing volume-based trades on its platform. Earlier this year, Bitcoin peaked over $58,000 before retreating, which likely means Coinbase is off to great start in 2021.
Source Fool.com
