Coinbase continues to surprise customers coming with news every day. Recently, the company pleased investors with announcing a new listing policy which makes the listing process faster. Soon, Coinbase rolled out three new products aimed at educating people about cryptos and simplifying their first investing experience. Now, there is information about company’s deal with Tiger Global, a U.K. hedge fund that invests mainly in global consumer brands. However, Coinbase has not commented on the deal yet.

A couple of days ago, Tiger Global has performed the $245 million round for payments platform Stripe, and is now considering an investment in Coinbase. As reports from The ICO Journal read, Coinbase is going to raise up to $500 million at an $8 billion valuation.

“Coinbase is finalizing a deal that would value the company at about $8 billion, a transaction that would make Coinbase one of the highest-valued startups in the U.S. and help further legitimize the entire cryptocurrency industry.”

In August 2017, Coinbase was valued at $1.6 billion after a $100 million round. At $8 billion, the crypto platform would become the highest privately valued companies in the US. A part of the capital raised will be used to buy out existing shareholders, the rest will be invested in the company.

“The company, which has disclosed that it is profitable, has been talking with investors for almost all of 2018 about a secondary stock sale that would allow existing investors to cash out without the company necessarily raising new, fresh money for itself. Inbound interest was so high at one point that the company issued a stern warning to dealmakers to back off from the company and its shareholders.”

Thoughts about a possible Coinbase IPO emerged last year. Last December, Coinbase President Asiff Hirji said that “the most obvious path of Coinbase is to go public at some point, but there’s a lot for us to do between now and then, whenever that date is.”

One more news from Coinbase is connected with the recent changes in the staff. The company has welcomed the former CEO of Instinet, Jonathan Kellner, who will serve as a managing director of Coinbase institutional coverage group and lead institutional sales and support organizations. Moreover, Coinbase has hired Chris Dodds, a senior advisor to The Carlyle Group, currently serving on the board of Charles Schwab. He joins Coinbase as a member of the Coinbase Board of Directors.

We're proud to welcome Chris Dodds of the @CharlesSchwab Board of Directors to the @coinbase Board. His deep knowledge of financial services will be an asset as we head into this next chapter for the company and the cryptocurrency industry as a whole. https://t.co/5Kzv4cUeam

— Coinbase (@coinbase) October 2, 2018

Coinbase co-founder and CEO Brian Armstrong said:

“Chris brings world-class leadership skills, deep knowledge of the financial services industry, and significant financial and accounting experience… His addition to the Coinbase board is part of our effort to expand our financial services capabilities as we head into this next chapter for the company and the cryptocurrency industry as a whole.”

Currently, the company is in talks with Tiger Global. More information will probably become available soon.

The post Tiger Global Plans to Invest $500M in Coinbase Quadrupling Startup’s Valuation appeared first on CoinSpeaker.

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