BBG: Buyout giant CVC seeking more than €1 billion in Amsterdam IPO
BLOOMBERG reports: – Private equity firm may target up to €15 billion valuation – CVC has been ...
PITCHBOOK reports:
Coinbase‘s long-awaited direct listing on the Nasdaq marked a watershed moment for the crypto industry, which is experiencing a Wall Street welcoming after years outside the financial mainstream.
Coinbase was valued at $85.8 billion on a fully diluted basis at Wednesday’s closing price of $328.28 per share, representing the largest-ever direct listing and one of the biggest public debuts on record. The company was privately valued at $8 billion in 2018, according to PitchBook data.
Andreessen Horowitz, the company’s leading private investor, owned shares worth $9.68 billion at the closing price. Other major shareholders to strike it rich included Union Square Ventures ($4.56 billion stake), Ribbit Capital ($3.94 billion) and Coinbase CEO Brian Armstrong ($13 billion).
The price of bitcoin topped $64,000 for the first time in the lead up to Coinbase’s listing, more proof that the fortunes of the two are closely intertwined. Energized by a crypto bull market, Coinbase posted $1.8 billion in estimated revenue for Q1 2021, surpassing last year’s total of $1.3 billion.
Related read: Crypto startups post record quarter as opportunities abound
'I'm scared', says Boeing whistleblower, after two others suffer mysterious deaths
DSV could face $16m bill after helicopter is written off in haulage accident
FAK rate hikes holding, with strong demand into peak season predicted
Déjà vu as major ocean carriers scramble for tonnage and containers
Indian trade disrupted as port congestion forces liner services to skip calls
Ecommerce boom may be opening the doors for smugglers
Don't get too confident for Q2, market risks haven't disappeared, warns Yang Ming chief
Shipper frustration as spot rates rise alongside demand, and cargo is rolled
Don't chase that final dollar, warning to shippers delaying signing new contracts
Airfreight contracts begin to reflect threat of a Q4 capacity crunch
Q1 'better than expected' for Maersk – but 'there's more pressure to come'
Comment on this article