Coinbase Inc. shareholders, including CEO, CFO, Chief Product Officer and Chief Accounting Officer cash out large: $4,612,933,426-April 14-15
A text-book example of sold to you....Duke Brothers would be proud
The bulk here
Coinbase Global sold by Union Square Ventures: $3.63B-Apr 14-15
Whoever bought this in the first hour of trading..Union Square Ventures (plus the Chairman/CEO etc. and Marc Andreessen) want to thank you for your donation.
The bulk of these sales went off at $388.89/sh all in the first hour of trading on Weds. The rest (404,468 shares) at $330.01/sh the next day .
These were filed pretty late at 945pm EST on Friday evening.
Chairman/CEO also in first hour and high price out of all of them @$389.10/sh for $291.82m
Coinbase Chief Executive Armstrong sold $291.8 million in shares on opening day
Andreessen Horovitz popped at $381 flat for $112.30m
Coinbase IPO: An Early Investor’s Takeaways
Coinbase is the largest marketplace for crypto assets in the U.S. The company has 56 million users, compared to 32 million in 2019. As crypto currencies like Bitcoin and Ethereum have soared during the past year, so has the growth for Coinbase. During the first quarter, the revenues spiked 9X to $1.8 billion and the net income came to over $700 million. The origins of Coinbase go back to the summer of 2012. The cofounder and CEO, Brian Armstrong, was an engineer at Airbnb and submitted his pitch to the Y Combinator program. He received an initial $150,000 investment and then recruited Fred Ehrsam, who was a trader at Goldman Sachs. Coinbase started as a wallet for bitcoin, which made it easier for people to buy and sell the digital asset. And within a year, the company would raise $5 million in a Series A funding from Union Square Ventures.
Union Square Ventures
Union Square Ventures (USV) is an American venture capital firm. Union Square Ventures (USV) was founded in 2003 by Fred Wilson (a former partner of Flatiron Partners) and Brad Burnham (a former Executor in Residence with AT&T Ventures). They created USV with the intent of investing in and fostering the development of early-stage companies. Their investments are "mostly U.S.-based Internet and mobile companies considered to be ‘disruptive’". Since its establishment, USV is one of the companies that are regularly included in Red Herring’s lists of top venture capital firms. As of 2016, USV had 7 billion dollar exits including Twitter in 2013 and Twilio in 2016. In 2007, Albert Wenger, the former president of del.icio.us, joined the firm as a managing partner. In 2011, Betaworks co-founder Andy Weissman joined USV. The same year, USV was chosen as the best-performing venture capital firm the United States, based on investment return rate. In 2018, Rebecca Kaden, previously a General Partner at Maveron joined USV. In 2019, USV announced two new partners joined the firm – Gillian Munson, formerly the CFO of XO Group, and Nick Grossman, who had previously worked at USV on special projects such as policy and crypto.