> Coinbase is currently valued at almost $10 billion
Coinbase's last round's investors valued the top-of-the-stack preference they were given at a price per share that, if multiplied across the cap table, comes to $10bn.
That valuation printed when crypto hype was near its peak. It's reasonable to conclude it may be stale. Given the preference, enterprise value would fall faster than the value of those most-recent shares.
Valuation is a poor sole measure of success. It's easily manipulated, determined by a few people and often stale.
Coinbase's last round's investors valued the top-of-the-stack preference they were given at a price per share that, if multiplied across the cap table, comes to $10bn.
That valuation printed when crypto hype was near its peak. It's reasonable to conclude it may be stale. Given the preference, enterprise value would fall faster than the value of those most-recent shares.
Valuation is a poor sole measure of success. It's easily manipulated, determined by a few people and often stale.