By Chris Neiger
The first billion is the hardest
In August 2017, Coinbase closed a $100 million Series D funding round that put the company’s valuation at $1.6 billion. Private companies are often valued based on the amount of funding they receive during investment rounds. Surpassing a $1 billion valuation was impressive at the time, but no one had any idea how much the company’s value would grow in the next few years.
A little more than a year after the Series D round, in October 2018, Coinbase held a Series E round in which it received $300 million. That pushed the company’s valuation up to a formerly incomprehensible $8 billion.