Prominent cryptocurrency exchange, Coinbase, in a deal worth more than USD 120 million, announced its significant plan to buy the United States startup that uses blockchain for its paid-email service, Earn.com.
Coinbase also appointed Indian-American, Balaji Srinivasan, co-founder and CEO, Earn.com as its first CTO, TechCrunch reported.
The rest of the team from Earn.com will also transition over.
“With Coinbase’s user base and distribution muscle, I think it could hit USD 100 million in accounting rate of return (ARR) in a few months. 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,” TechCrunch quoted Balaji Srinivasan as saying.
A Stanford graduate, who holds a BS, MS and Ph.D. 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.
Coinbase is a digital currency exchange headquartered in San Francisco, California. They broker exchanges of Bitcoin, Bitcoin Cash, Ethereum, and Litecoin with fiat currencies in around 32 countries, and bitcoin transactions and storage in 190 countries worldwide.