It is said that Tiger Global, which is already involved with the crypto money exchange Coinbase, will raise the valuation of Coinbase to 8 billion dollars with an investment of 500 million dollars.
Tiger Global continues to negotiate with existing investors and startups to invest in the crypto money exchange Coinbase. According to the first leaked information, Tiger Global will invest half a billion dollars in Coinbase. Coinbase, which has already managed to become a “unicorn“, is expected to reach 8 billion dollar valuation with this investment.
Coinbase’s valuation was announced as 1.6 billion dollars after the investment in August last year. Even though there are still some regulatory problems in the crypto money exchanges, this new investment report, indicating that this business is getting better, could be a big enough step to monopolize Coinbase in the market. Coinbase, which succeeded to be a unicorn before its competitors, can also devote new resources to growth.
The investment will be divided
According to the news, Tiger Global will make this 500 million dollar investment by dividing it into two. The first 250 million dollar portion of the fund will be directly invested in Coinbase as a new investment, while the second 250 million dollars will be paid to investors who have decided to make an exit from existing investors and the shares held by them will be bought. However, there is no detail on this subject.
The San Francisco-based startup has so far achieved a total investment of 225 million dollars. Now, Tiger Global, with its belief in the startup, seems to have a serious share in Coinbase, with a half-billion-dollar investment.