Ren Neuner: Coinbase is preparing to IPO

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American cryptocurrency company Coinbase can prepare for an initial public offering (IPO), according to the publication, leading CNBC Rena Neuner.

In his Twitter Neuner, known cryptocurrency community in an interview with entrepreneur Mike Novogratz, the founder of the exchange Binance Changinga Zhao and other prominent representatives of industry, published two slides, which he claims will be used in tomorrow’s issue of Cryptotrader on CNBC dedicated to the Coinbase IPO.

CNBC Cryptotrader exposes details of the Coinbase IPO raise tomorrow on a Cryptotrader exclusive.

— Ran NeuNer (@cryptomanran)

According to the presented slides of information to date on Coinbase it was 25 million accounts, 7 million of them have a nonzero remainder, and 600 000 are used to trade monthly. In may the Washington Post that Coinbase manages more than 20 million accounts, and in August, CEO Brian Armstrong at the end of last year, its stock exchange has registered 50,000 customers daily.

Also on the slides present information on revenue and its sources. For the third quarter of Coinbase earned $90 million against $450 million in the fourth quarter of last year and more than $1 billion for the whole of 2017. 80% of revenue was generated from retail customers, 15% — Coinbase Pro, that is the platform to service institutional investors, 5 percent other sources.

In the beginning of the month it became known that Coinbase, presumably, was valued at $8 billion, Data were published by the portal Recode, which is citing sources also said that the company could raise $500 million with the participation of both existing and new investors in the face of a multibillion-dollar Fund Tiger Global.

Armstrong informed the possibility of conducting an IPO for their company. At the meeting in September, the conference Disrupt SF 2018, he stressed that Coinbase remains profitable “quite a while”, adding:

“Never say never”.

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