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Coinbase is continuing its efforts to attract talent after the $ 8 billion cryptography company has taken Blockspring, a San Francisco-based startup that allows developers to collect and process data from a single source. ; API.
The undisclosed contract was announced by Blockspring on his blog and confirmed at TechCrunch by a Coinbase representative. Coinbase declined to comment further.
Blockspring started as a server-less data enterprise, but it has been transformed into a service that allows businesses to use API data. This includes goals such as creating a list and repositories for recruiting, marketing sales, reporting, and so on. Prices start at $ 29 a month and Blockspring claims to work with "thousands" of companies.
This startup has graduated Y Combinator and, according to Crunchbase, he would have raised $ 3.5 million from investors such as SV Angel and A16z, both investors of Coinbase. These common investors are probably one of the main reasons for the deal, which seems to be a talent acquisition. The Blockspring team will join Coinbase, but it will continue to offer its existing products "for current and new customers, as they have always done".
"Joining Coinbase was a no-brainer for several reasons, including its commitment to establishing an open financial system and the strength of its engineering team, led by Tim Wagner (formerly of AWS Lambda). Making the technique simple and accessible is what we always thought about at Blockspring. And we will now be able to move those goals along with the talented people at Coinbase to create something bigger than we could do it ourselves, "said CEO Paul Katsen.
Coinbase raised $ 300 million last October to reach $ 525 million raised to date from investors. Although it's not huge, the Blockspring agreement seems to be its eleventh acquisition, according to Crunchbase data. Most of these acquisitions were made with talent, but its larger mergers and acquisitions include the $ 120 million contract for Earn.com, which installed Balaji Srinivasan as the company's first CTO, the purchase of Keystone Capital, which allowed him to switch to security tokens.
In addition to buying companies, Coinbase also invests through its Coinbase Ventures fund, which specializes in start-up phases.
Disclosure: The author has a small amount of cryptocurrency. Enough to understand, not enough to change a life.
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