in March that the coronavirus was a "black swan" event that would hurt business activity, disrupt supply chains and impede financings.While Union Square led Coinbase's initial funding round, the firm isn't the biggest outside investor. That distinction belongs to Andreessen Horowitz, which owns shares in the crypto exchange worth about $9.7 billion.
Ribbit Capital, a fintech-focused venture firm that co-led the Series A, is Coinbase's third-biggest outside investor with 12 million shares, worth $3.9 billion. Tiger Global, Institutional Venture Partners and DFJ Growth are among the other backers.By the time Barry Schuler of DFJ Growth got into the mix in late 2014, crypto had broad enough acceptance that more traditional Sand Hill Road firms were taking a close look.
"It became clear to me that this doesn't go mainstream if this is the way to buy bitcoin," Schuler said. "You have to have an onramp. By doing that early work and mucking around in the space, it became obvious what the value of a company like Coinbase would be."
Bulls, bears and pigs.
Love the fundamental idea, we’ll back it. .0001 after the $COIN listing....GIMME THE FIAT!!!!!!!!!!!
And billions in losses for everyone else! 😂
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