Coinbase valued itself at about $8 billion when it made an offer in a recent acquisition deal that included its common shares. That internal estimate is much higher than its last preferred valuation.
Coinbase offered its stock at that approximate price when pitching an equity package to Earn.com investors, according to people familiar with the negotiations; Earn sold to Coinbase for over $100 million earlier this month. Earn’s investors asked for and instead recieved cash, the people said, but Earn’s management took at least some Coinbase stock. [ Recode ]