Financial Digest

How Coinbase CEO Brian Armstrong landed a $100 million term sheet

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Finance Finance Headlines News

A phone call from Coinbase CEO Brian Armstrong the night before a $100 million deal left one VC feeling 'nauseous.'

On the phone, Armstrong calmly explained the situation to his soon-to-be investor.

The following day, at the close of business, Loverro walked into Coinbase's headquarter in San Francisco's financial district to hand-deliver the term sheet. It happened to be his birthday. Despite the flash crash, the round was still oversubscribed, meaning more VCs wanted to buy shares than the amount the company had planned to sell. And the round quickly became contested, meaning a bidding war among interested investors ensued.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Coinbase Chief Executive Armstrong sold $291.8 million in shares on opening dayCoinbase (COIN.O) Chief Executive Brian Armstrong sold about $292 million in shares in total during the cryptocurrency exchange's first day of trading on the Nasdaq in the past week, according to regulatory filings. I would too. lock in what you got on the initial IPO hype. Keep amassing shares as part of your CEO packages later. Happens all the time SAFEMOON LFG!
Source: Reuters - 🏆 2. / 97 Read more »