Coinbase acquires Bitcoin earning service Earn.com

16 April 2018

Coinbase Coinbase is reportedly about to take over another startup, this time it will be Earn.com, a company providing users an opportunity to earn some Bitcoin units for completing the tasks and responding the emails. According to some speculations, the deal may close at the value of $100 million.

Within the framework of the transaction Balaji Srinivasan, CEO of Earn.com will take the position of CTO at Coinbase. Earn.com launched its business under the brand of “21 Inc” before changing the name of the company in October 2017. At that time the startup shifted its attention to the paid email scheme.

Users at Earn.com create a personal profile and look through the lists on the website, containing categories based on the experience, skills and interests. They choose a category that fits them best and contact companies, recruiters or research specialists for getting a paid task. After the task is complete, they are paid in Bitcoin.

Brian Armstrong, CEO of Coinbase, noted in the blog post: “We’re going to be doubling down on the Earn business within Coinbase, as they have built a paid email product that is arguably one of the earliest practical blockchain applications to achieve meaningful traction.”

Earlier this month Coinbase announced plans to establish its own venture fund to invest into fintech startups at early stages, as it is seeking to contribute to the development of innovative products and services. The fund to be known as Coinbase Ventures will participate in financing of cryptocurrency-focused firms and other businesses emerging in the market with their unique technologies.

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