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[cryptobitnews]

Coinbase Phases Out Earn.com, Doubles Down on Coinbase Earn Cryptocurrency exchange Coinbase plans to shut down cryptocurrency learning platform Earn.com in favor of its in-house developed counterpart Coinbase Earn.

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[silverhatworld]

Coinbase Acquires Earn.com for an Estimated $100 Million

Coinbase Acquires Earn.com for an Estimated $100 Million

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Coinbase has completed the acquisition of Earn.com, an app that lets users get cryptocurrency for answering emails and completing tasks. The Earn startup team joins the company and the founder will serve as its first CTO, as part of the deal.

Also Read: Blockchain Mining Completes Bitfarms Merger, Stock Jumps 49%

Coinbase’s…

[dailycryptocurrencynews-blog]

Coinbase Acquires Earn.com And Hires CEO As Chief Technology Officer

Cryptocurrency change Coinbase has obtained Earn.com, a paid messaging carrier enabled through Blockchain generation, and appointed the corporate’s CEO, Balaji Srinivasan, as its first Chief Technology Officer (CTO), TechCrunch reported  April 16. Neither Coinbase nor Earn.com, previously referred to as 21.co, disclosed the phrases of the deal, however Srinivasan informed TechCrunch that it represented a…

Coinbase Acquires Earn.com And Hires CEO As Chief Technology Officer was originally published on Daily Cryptocurrency News

[tecnomagzne-blog]

Coinbase buys Earn.com and makes CEO Balaji Srinivasan its first CTO – TechCrunch

Coinbase buys Earn.com and makes CEO Balaji Srinivasan its first CTO – TechCrunch

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Coinbase, the prominent cryptocurrency exchange, has announced its most significant piece of M&A to date after it agreed to buy Earn.com, the U.S. startup that uses the blockchain for its paid-email service, in a deal worth more than $120 million. In addition, Coinbase has appointed Earn.com co-founder and CEO Balaji Srinivasanas its first CTO, while the rest of the team will…

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Balaji S. Srinivasan, creator of the secretive 21.co and Earn.com, is leaving as CTO of Coinbase. from CoinDesk http://bit.ly/2Lm4bXM via IFTTT If you want to learn more about cryptocurrencies, check out this awesome opportunity from the cryptocurrency institute. http://bit.ly/2sUPBxj

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[techietrends]

Coinbase’s Earn.com becomes a crypto webinar with crypto rewards

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Coinbase Acquires Earn.com And Hires CEO As Chief Technology Officer

Digital currency exchange Coinbase has acquired Earn.com and appointed the company’s CEO as its Chief Technology Officer. #NEWS from ICGO https://www.icgo.co.uk/redirect/?url=https://cointelegraph.com/news/coinbase-acquires-earncom-and-hires-ceo-as-chief-technology-officer via https://www.icgo.co.uk

[ellahmacdermott]

Coinbase Buys Earn.com, Gaining Top Talent in the Process

Cryptocurrency exchange Coinbase is buying Earn.com, a social network that allows users to earn digital currency by replying to emails and completing small tasks online.

Coinbase CEO Brian Armstrong made the announcement in a blog post today, April 16, 2018. In addition to welcoming the entire Earn.com team, Coinbase has made Earn.com co-founder and CEO Balaji Srinivasan its first CTO. Both companies are located in the Bay Area.  

This is Coinbase’s fifth acquisition so far and its most substantial to date. Only last week, the exchange purchased decentralized app browser and Ethereum wallet Cipher Browser. Coinbase has not revealed how much it paid for Earn.com, but to offer an idea of the company’s evaluation, Earn.com has raised more than $120 million in a series of funding rounds.

21 Inc

Earn.com began life as 21 Inc, a startup best known for creating the 21 Bitcoin Computer, essentially, a Raspberry Pi connected to a bitcoin-mining ASIC, with the idea of building bitcoin miners into devices people already use. The computer first began shipping in November 2015.

In October 2017, 21 Inc rebranded itself as Earn.com and notified customers it was ending support for its Bitcoin Computer to focus on allowing users to monetize their email and social media channels instead.

Currently, Earn.com pays users in bitcoin, but the company has also developed its own Ethereum-based ERC20 token, dubbed the “Earnable Token,” so that when people complete tasks in Earn.com, they can earn rewards in tokens. The company stated before, there will be no initial coin offering. Users earn tokens for simply signing up on the platform.

Coinbase does not support ERC20 tokens yet, but last month, the exchange announced plans to add support for ERC20 technical standards to all its trading platforms. Earlier this month, Coinbase also entered into talks with the U.S. Securities and Exchange Commission to become an alternative trading system (ATS), which would enable it to trade security tokens.

Talent

Aside from all that, Coinbase acquired Earn.com for its talent. Srinivasan himself comes with an impressive skill set. Prior to serving as the CEO at Earn.com, he was general partner at venture capital firm Andreessen Horowitz, where he still sits on the board. He has a B.S., M.S., and Ph.D. in electrical engineering and an M.S. in chemical engineering at Stanford University.

In a blog post, Srinivasan details how he took over the gasping 21 Inc in May 2015 and turned it around from a company that was more than $80 million under water to what it is today, “a fast-growing, cash-flow positive business with a multimillion dollar revenue run rate,” he said.

The plan is to take Earn.com and “scale it up across Coinbase’s massive user base,” Srinivasan said. Although the new Coinbase CTO was equally tight-lipped on how much Coinbase paid for Earn.com, he added, “And with this deal, the total value of cash, cryptocurrency and equity returned to our shareholders is now in excess of the capital invested in the company.”

This article originally appeared on Bitcoin Magazine.

from InvestmentOpportunityInCryptocurrencies via Ella Macdermott on Inoreader https://bitcoinmagazine.com/articles/coinbase-buys-earncom-gaining-top-talent-process/

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Coinbase, the prominent cryptocurrency exchange, has announced its most significant piece of M&A to date after it agreed to buy Earn.com, the U.S. startup that uses the blockchain for its paid-email service, in a deal worth over $120 million. In additional, Coinbase has appointed Earn.com co-founder and CEO Balaji Srinivasan as its first CTO, while the rest of the team will transition over, too.

The deal doesn’t come as a complete surprise since Coindesk reported last month that Coinbase and Earn.com were in talks over a deal.

This is Coinbase’s fifth acquisition to date — its most recent was a deal to buy Cipher Browser last week — and its largest outlay so far. Neither party is saying exactly how much Coinbase is paying, but Srinivasan told TechCrunch in an interview that the deal represents a positive return on investment for those who backed Earn.com, which was formerly known as 21. The company had raised more than $120 million from investors, according to Crunchbase data, which gives some idea of the total deal package.

All of Coinbase’s previous acquisitions have centered around talent, for example, last week’s Cipher deal sees highly-rated developed Peter Kim join the Coinbase ranks. That seems to be a major motivator for landing Earn.com, despite a high price and a product that both Srinivasan and Coinbase CEO Brian Armstrong intend to “double down” on post-acquisition.

A Stanford graduate who holds a BS, MS, and PhD in Electrical Engineering and an MS in Chemical Engineering, Srinivasan is highly-prized in Silicon Valley. He sits on the board at power investor firm Andreessen Horowitz and is known for being an early evangelist of cryptocurrencies and blockchain technology. (He once told me that he tipped Uber drivers in bitcoin in its early days, going so far as to set up Coinbase wallets for them while in their back of their car as they took him to his destination.)

It’s not a secret that Coinbase has struggled to fill its vacancies with talent, and that has extended to the CTO role. Bringing in a name as big as Srinivasan is a major coup for the company and, with the startup said to be paying some of its talent more than $1 million per year in salary, it doesn’t make you wonder how big a factor landing Srinivasan is in making this deal happen.

More importantly for Andreessen Horowitz, Qualcomm Ventures, Khosla Ventures and other backers of Earn.com, this deal with Coinbase — which includes cash, stock and crypto — represents a turnaround in fortunes for the startup.

Founded as secretive bitcoin mining operation ’21E6′ in 2013, the company quickly raised over $100 million but struggled as the price of bitcoin fell and expensive operational costs weighed it down.

Srinivasan was an initial co-founder but he stepped back from daily operations to take a full-time role with Andreessen Horowitz as the startup got going. He returned to the fold as CEO role in 2015 when, he explained, the company had less than a year in runway having wracked up large capital commitments that it couldn’t pay back, even with millions of dollars of mining profit each month.

Alongside CFO Lily Liu, Srinivasan refocused the company to offer a service that rewards users financially for answering emails and completing tasks. Today, he said, the company — which was renamed to Earn.com last year — is profitable with revenue at an eight-digital annual rate run with “hundreds of thousands” of users.

“With Coinbase’s user base and distribution muscle, I think it could hit $100 million in ARR in a few months,” Srinivasan told TechCrunch. “I’m proud of the fact that we turned what could have been a disaster into a successful product and I’m excited about the road ahead.”

Coinbase CEO Brian Armstrong on stage at TechCrunch DIsrupt San Francesco in 2014

It is fairly easy to dismiss Earn.com as Silicon Valley hyperbole — the fact that Mark Andreesen will answer your email in return for a $100 donation to Black Girls Code may be neat but it is not game-changer — but the company’s product gets interesting when you consider it at scale.

Srinivasan explained how the ability to reach hundreds of domain experts with questions — for example AI engineers about their next career move, or expectations for how the industry matures — starts to become a powerful tool, particularly when the surveyor pays based on results. That’s a very different proposal to existing intelligence services, and it has found success among some tech industry verticals.

Lately, Earn.com has branched out into token-based incentives for tasks, and it launched a platform that allows companies preparing to hold an ICO to airdrop tokens to Earn.com users in exchange for answers, opinions and other feedback.

Writing in a blog post for Coinbase — which interestingly focuses heavily on Srinivasan’s arrival at the company — CEO Armstrong called Earn.com “arguably one of the earliest practical blockchain applications to achieve meaningful scale.”

It’ll be interesting to see what Coinbase does with it, particularly around product integrations.

Perhaps of more significance is what Srinivasan does in his new role.

Acknowledging what many perceive as Coinbase’s conservative approach to cryptocurrencies — it offers users the chance to buy only four — Srinivasan said a large part of his role is to look at emerging technologies.

“There’s a lot of amazing stuff happening,” he told TechCrunch. “Atomic swaps, sharding, plasma, proof of stake, etc, and a big part of my job will be to take all of that stuff, and rank it based on whether we can use it to create new products for our users.”

Another part, he mentioned, will be evangelizing the concept of blockchain itself beyond just the cryptocurrencies as investments. So you can expect him to pop up at events and generally have a wider presence in the media as Coinbase looks to cement its position as a blockchain and crypto leader.

Srinivasan will also continue to be involved with Andreessen Horowitz, and at Coinbase he’ll be part of the company’s recently announced investment arm, Coinbase Ventures.

“Every once in a while, a company comes along that is the start button for a technology,” Srinivasan said, citing companies like Microsoft (Windows) and Facebook and their roles in igniting the next phases of technology development.

“If you control and build that onboarding process, then you can build everything else downstream. If you do it right, then Coinbase goes from the place people build cryptocurrency to the place where blockchain technology is built.”

Coinbase is certainly trying to move in that direction with the fund — which follows the wider trend of crypto companies getting into investment — while the recent hiring of former LinkedIn M&A head Emilie Choi has advanced the M&A piece with three deals announced in 2018 alone.

Note: The author a small amount of cryptocurrency. Enough to gain an understanding, not enough to change a life.

[silverhatworld]

Coinbase Buys Earn.com in Largest-Ever Acquisition

Coinbase Buys Earn.com in Largest-Ever Acquisition

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Coinbase has officially embarked on a shopping spree.

The San Francisco-based company on Monday announced its second buyout in less than a week, revealing that it had acquired fellow cryptocurrency startup Earn.com, confirming months-long rumors that the two companies were quietly holding such discussions.

Term…

[dailycryptocurrencynews-blog]

Coinbase Buys Earn.com, Gaining Top Talent in the Process

Cryptocurrency trade Coinbase is purchasing Earn.com, a social community that permits customers to earn virtual forex by way of replying to emails and finishing small duties on-line. Coinbase CEO Brian Armstrong made the announcement in a blog post as of late, April 16, 2018. In addition to welcoming the whole Earn.com crew, Coinbase has made…

Coinbase Buys Earn.com, Gaining Top Talent in the Process was originally published on Daily Cryptocurrency News