The company s share price was trading at $350 on the Nasdaq Private Market auction last week, the last time shares are sold, before it lists in late March
Crypto boom has been good to Coinbase ahead of planned listing
Crystal Tse, Bloomberg News VIDEO SIGN OUT
Coinbase Global Inc. is the latest company thatâs taking an unconventional route to becoming a public company. A look at the largest cryptocurrency exchangeâs latest financial statements shows something else that sets it apart: Itâs making money.
About 85 per cent of the 130 companies that went public in the U.S. last year were unprofitable, according to data compiled by Bloomberg that excludes special purchase acquisition companies and real-estate investment trusts. Coinbase, which plans a direct listing rather than a traditional initial public offering, swung from a loss to a profit of US$322 million last year on net revenue that more than doubled to US$1.14 billion.