$120 Million: Coinbase Buys Earn.com in Largest-Ever Acquisition

The platform "Coinbase" officially launched a famous shopping process. The San Francisco-based firm announced its second acquisition in less than a week. Where it revealed that it had bought the emerging digital currency company colleague "Earn.com" and confirmed rumors circulated and traveled for months, saying that the two companies were conducting conversations silently between them. The terms of the deal were not disclosed, but TechCrunch reports said it provided investors - who collectively provided nearly $ 120 million to Earn.com in the form of funding over the years - positive returns on their investment. These figures are in line with previous reports that the total compensation package is likely to exceed $ 120 million. Of course, Earn.com has an eclectic history. Formerly known as "21," the company started out as a highly fledgling startup mining company, but eventually developed into a professional, currency-based networking platform that allows users to access Bitcoin by answering emails and performing some tasks So similar.

The company said it was developing the initial ERC20 digital currency to operate its platform instead of the Bitcoin, which is noteworthy as "Coinbase" has recently announced its intention to add full support for the initial ERC20 digital currency to its product package. However, "Earn.com" said in a blog publication that the procurement process would launch its initial digital currency "as one of its non-core priorities" while integrating its platform with the "Coinbase" ecosystem.

Interestingly, the publication of the "Coinbase" blog announcing the acquisition spent more space on the discussion of the former CEO of "Earn.com", Balaji Srinivasan, who will join "Coinbase" as its first CEO. Prior to leading Earn.com, Srinivasan was a partner in Andreessen Horowitz, the leading expert in "Coinbase" to this day.

On the other hand, the recent deal represented the second purchase of "Coinbase" in the largest number of days. The company announced on Friday that it had purchased the "Cipher Browser", an etherium mobile phone portfolio that also allows users to access decentralized applications (DApps).

The company's sole employee, founder Peter Kim, has joined "Coinbase" as the engineering team leader and will integrate some of Cipher's advantages in Toshi, a niche application search engine for Coinbase's mobile phones.

As the CCN reported in its reports, "Coinbase" has also recently launched its first venture capital fund - "Coinbase Ventures" - which will provide start-up companies $ 15 million in the initial financing phases