Coinbase IPO brought to you by... Goldman Sachs
Yesterday Coinbase announced they would IPO (Initial Public Offering) aka going public. The info hit the newswire after they filed their S-1 form with the US Securities Exchange Commission (SEC), recall this hit the rumor mill earlier this summer.
Why is this important? Coinbase is attempting to ride the hot capital market wave that started earlier this year. Year to date the equity market has raised $160BB already this year. Additionally, Coinbase is attempting to ride the 'wall of money' flowing towards Crypto this year - I.E. BTC is up 560% since March '20.
Who is Coinbase? The Cryptocurrency Giant was founded way back in the ancient times of 2012 to simplify the way consumers purchase Crypto's. They have built themselves into the worlds largest Crypto exchange and yet still have 'outage' issues when it comes to bull run days. Hopefully they can direct some of that raised revenue to fix their infrastructure and perhaps offer more coins to US Customers!
Who is Goldman Sachs? AKA Golden slacks as they were called in the '90's is a US based multinational investing bank and financial firm that is based out of NYC, USA. They have an estimated $12BN of assets under management (AUM). Small companies they helped bring to IPO - Twitter and Snowflake are just a few of the success stories. Currently, they are working on the Instacart & Robinhood IPO's. Needless to say they are the top notch in regard to IPO.
What IF the SEC turns down their IPO request? Is it over? Not by a long shot they could always go forward with a Direct Listing! (Recall it was leveraged by Slack and Spotify not long ago)
Will it be the largest IPO ever? That is unknown at this point and the enterprise 'Snowflake reset that bar earlier this year by raising $3BN'.
Summary - although, nothing in life is guaranteed, I expect this IPO to be a huge success and this bodes well to bring more PR to the Crypto world.
Enjoy the Journey!
