Some Facts About Coinbase and Its IPO
Updated
I am pretty fascinated by the Coinbase IPO and watched it closely today. I did not trade it or buy or sell it. I just watched. The market is really something else today. AirBnB and Coinbase are $100 billion companies. They are suddenly 1/7th the size of Tesla or roughly 1/15th the size of Google. I have no doubt these are amazing companies, but the valuations are jaw-dropping.
Or maybe Google and Tesla are still undervalued? I tweeted this stat the other day:
"Dogecoin currently has a market cap of $14 billion. It's now the 13th largest cryptocurrency in the world. Its market cap is bigger than companies like GameStop
GME, Factset FDS, Davita DVA, Kohl's KSS, and Coors Light TAP. It's possible equity markets are TOO efficient compared to other markets." - Tweet here
So to answer that question and to dive in, here are some facts I found about Coinbase. Enjoy - by the way these facts come from a various list of sources and official documentation from Coinbase itself:
• 56 million users in the most recent quarter, which is compared to 32 million in 2019.
• The Coinbase IPO was a direct listing, actually not an IPO, which means there was no money raised.
• Coinbase gets 95%+ of its revenue from transaction fees and that needs to change
• The company wants to soon move into credit cards, which make up 50% of sales in the next 5-10 years
• Coinbase revenue has apparently climbed nine-fold from over the last 12 months to $1.8 billion
• Net income has jumped somewhere to $730 million and $800 million and only last year it was $32.
• Coinbase is larger than the NYSE and Nasdaq COMBINED.
So that's it.
Curious to hear your thoughts below. Thanks for reading.
Or maybe Google and Tesla are still undervalued? I tweeted this stat the other day:
"Dogecoin currently has a market cap of $14 billion. It's now the 13th largest cryptocurrency in the world. Its market cap is bigger than companies like GameStop
GME, Factset FDS, Davita DVA, Kohl's KSS, and Coors Light TAP. It's possible equity markets are TOO efficient compared to other markets." - Tweet hereSo to answer that question and to dive in, here are some facts I found about Coinbase. Enjoy - by the way these facts come from a various list of sources and official documentation from Coinbase itself:
• 56 million users in the most recent quarter, which is compared to 32 million in 2019.
• The Coinbase IPO was a direct listing, actually not an IPO, which means there was no money raised.
• Coinbase gets 95%+ of its revenue from transaction fees and that needs to change
• The company wants to soon move into credit cards, which make up 50% of sales in the next 5-10 years
• Coinbase revenue has apparently climbed nine-fold from over the last 12 months to $1.8 billion
• Net income has jumped somewhere to $730 million and $800 million and only last year it was $32.
• Coinbase is larger than the NYSE and Nasdaq COMBINED.
So that's it.
Curious to hear your thoughts below. Thanks for reading.
Note
Coinbase is larger than the NYSE and Nasdaq COMBINED. (by market cap)Coinbase has a larger market cap than them both.
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