Bitcoin exchange Coinbase valued at $8 billion after raising another mega round

Coinbase CEO Brian
Armstrong
Anthony Harvey /
Stringer

• Coinbase is now officially valued at $8 billion.
• The bitcoin exchange announced a $300 million Series E on
  Tuesday, with a mega valuation to match.
• That means the cryptocurrency startup is publicly valued
  higher than Slack and Instacart.

The popular cryptocurrency exchange Coinbase is now valued at $8
billion following a mega funding around, the company announced
Tuesday.

That round, led by Tiger Global Management, infuses the crypto
startup with $300 million to “accelerate the adoption of
cryptocurrencies and digital assets,” according to the
company.

Y Combinator Continuity, Wellington Management, Polychain
and Andreessen Horowitz also participated in the round.

Its new $8 billion valuation means that Coinbase is now publicly
valued higher than the
$7.1 billion Slack  and the
$7.6 billion Instacart. Rumors of the valuation were
first reported by Recode in early October. 

While the greater bitcoin and cryptocurrency markets have
suffered since hitting astonishing highs in December 2017,
Coinbase has continued to truck along, thanks in part to funding
and support from some of the biggest names in Silicon Valley
venture capital. 

The company was last valued at just $1.6 billion in August 2017
thanks to funding from big names like IVP, Spark Capital,
Greylock Partners, and Battery Ventures.

In February, Coinbase vice president Dan Romero
told Business Insider that the company’s goal was to become
the Google of crypto.

Read more about Coinbase’s strategy to become the Google of
cryptocurrencies. 

Get the latest Bitcoin price here.>>