Coinbase, the most popular cryptocurrency trading platform which has shown tremendous growth in the last year, demonstrated their interest in future mergers and acquisitions.
Emilie Choi, who was behind over 40 deals at LinkedIn during her eight year tenure, has joined Coinbase as the VP of corporate and business development.
This is a sign that Coinbase is maturing and building the infrastructure to take advantage of their boom in the market. The company has also been in late stage talks to hire a chief financial officer who would take the company public.
When asked what motivated her move from LinkedIn, Choi said she only took this job because she imagined she’d be busy there.
“There are a lot of great pre-IPO companies, or even the tech titans, that are not so heavily involved in M&A right now,” she said in an interview. “Coinbase actually is in a position to do a lot of M&A.”
Since Coinbase was started six years ago, they have only participated publicly in three company acquisitions. In January of 2017, they expressed interest in acquiring a digital custody rapsody, however the deal fell through and Coinbase launched their product line, Coinbase Custody, for the storage of digital cash for large institutions like hedge funds.
Choi explained that her role would at first be focused on “acqhires,” or in other words deals which acquire companies so that they can retain the people who run them.
“It definitely seems as the No. 1 priority right now is getting in as much talent as possible,” she said.
After the “acqhires” phase, Choi explained that in addition to cash and stock, Coinbase is able to leverage other holdings, such as cryptocurrencies.
What Coinbase will acquire first is the question. Will the take ownership in a new cryptocurrency?
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