Coinbase is acquiring Earn.com, the company was formerly known as 21 Inc, they once were a maker of bitcoin mining hardware, they shifted gears to focus on using cryptocurrency to power a social network.
On top of everything they get a valuable one word generic .com that could be sold down the road if things don’t pan out as expected.
Coinbase is acquiring Earn.com, a paid inbox service formerly known as 21 inc., with CEO Balaji Srinivasan joining as chief technology officer, confirming Axios’s earlier reporting.
Bottom line: Coinbase is gaining a well-known figure in Silicon Valley and digital currencies as its CTO, while Earn.com, which began as a bitcoin mining company in 2013, gains stability as part of a larger company.
Details: The company declined to comment on the deal, but a source tells Axios that total value (cash and stock) returned to Earn.com shareholders is north of the $120 million it raised in total VC money.
