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Brian Armstrong, the CEO of cryptocurrency trading platform Coinbase, wants to take his company public — maybe on the blockchain.
Onstage at TechCrunch Disrupt SF 2018, Armstrong dished on his ambitions for the future of Coinbase.
“We are self-sustaining,” Armstrong said. “You know, we’ve been profitable for quite a while. We don’t have any plans to raise additional capital at this point, but never say never … Someday I’d love to run a public company.”
Armstrong didn’t rule out going public on the blockchain. He said he’s even considered going public on his own platform.
“I think it would be very on mission for us to do that because, of course, we are creating an open financial system,” he said. “Companies could list their stock, which are really tokens, and instead of a cap table, you tokenize the cap table. But I don’t have any decisions on that to share at the moment.”
An innovative exit would be very on-brand for Coinbase. As one of the earliest players in crypto-mania, the company has certainly had to make things up as it goes. It’s worked, as Armstrong said; the company is profitable and was the first-ever cryptocurrency startup to garner a billion-dollar valuation.
Founded in 2012, Coinbase is backed by IVP, Spark Capital, Greylock Partners, Battery Ventures, Section 32, Draper Associates and more. The company was valued at $1.6 billion in August 2017 with a $100 million Series D last year. The financing was reportedly the largest-ever for a crypto startup.
Watch the full interview with Brian Armstrong below.
At the very beginning, there were 21 startups. After three days of incredibly fierce competition, we now have a winner.
Startups participating in the Startup Battlefield have all been hand-picked to participate in our highly competitive startup competition. They all presented in front of multiple groups of VCs and tech leaders serving as judges for a chance to win $100,000 and the coveted Disrupt Cup.
After hours of deliberations, TechCrunch editors pored over the judges’ notes and narrowed the list down to five finalists: CB Therapeutics, Forethought, Mira, Origami Labs and Unbound.
These startups made their way to the finale to demo in front of our final panel of judges, which included: Cyan Banister (Founders Fund), Roelof Botha (Sequoia Capital), Jeff Clavier (Uncork Capital), Kirsten Green (Forerunner Ventures), Aileen Lee (Cowboy Ventures) and Matthew Panzarino (TechCrunch).
And now, meet the Startup Battlefield winner of TechCrunch Disrupt SF 2018.
Forethought has a modern vision for enterprise search that uses AI to surface the content that matters most in the context of work. Its first use case involves customer service, but it has a broader ambition to work across the enterprise.
Unbound makes fashion-forward vibrators, and their latest is the Palma. The new device masquerades as a ring, offers multiple speeds, and is completely waterproof. And the team plans to add accelerometer features.
Jack Dorsey and Sheryl Sandberg were grilled by the Senate this week. Google was a no-show. And Alex Jones got the boot.
As more high-level executives leave, investors aren’t calmed by Musk’s attempt to return to his far-out thinking self on Joe Rogan’s podcast.