In the latest in a serious of interesting moves from US cryptocurrency exchange service Coinbase, an apparent acquisition of Earn.com – formerly known as 21.co – might be on the cards.
According to early reports, Coinbase has now entered into talks to acquire Earn.com for some $30 million USD. The business, which was raised $120 million USD in venture funding since its inception in 2013, presently markets itself as an online monetization service for email.
Earn.com – which began life as a Bitcoin mining manufacturer – now enables users to effectively monetize their email inbox and receive allocations of Bitcoin for responding to specific messages. In recent months, the service has become something of a hotbed for new ICO and token projects seeking an advertisement channel – leading the company to christen its new venture as “the first commercial social network”.
Should Coinbase succeed in acquiring Earn.com, it is expected that Balaji Srinivasan – CEO of Earn.com – would join Coinbase as part of the terms and conditions of the deal.
Interestingly, Coinbase is speculated to be just one of many potential suitors for Earn.com – some early reports have indicated that the latter startup is engaging with several keen investors who were ‘household names’ in the wider cryptocurrency ecosystem.
Coinbase remains a viable contender, as the company recently hired Emilie Choi – the former head of both mergers and acquisition at LinkedIn – as its Vice President of corporate and business development.
Should a deal be struck, Earn.com could become the latest in a slew of new tools and projects underway at Coinbase. The cryptocurrency has not only introduced its own passively-managed cryptocurrency index fund in the recent past, but has further introduced new tax calculation tools for investors in the US. Further afield, the company’s new Protocol Team has begun to work on new blockchain projects under open source development.
We’ll update this story as news develops.