Coinbase Wants To Value Itself at US$1bn Despite Ongoing Customer Service Issues

The Coinbase exchange has quite the reputation in the world of Bitcoin. Over the past years, the company raises a fair amount of money from investors. It now appears they are seeking additional funds. What stands out, though, is how the company would see itself valued at over US$1bn. That is quite a lot of money, especially for a company receiving a ton of complaints as of late.

On the one hand, it is good to see Coinbase look for more funding. After all, the company needs money to improve their existing services. Right now, that is easier said than done. There are a growing number of customer complaints regarding issues. Getting an answer to those tickets can take days, if not weeks. That is not good PR for such a prominent Bitcoin company by any means.

Coinbase Looks For More Funding

To solve this problem, Coinbase is looking for additional funding from investors. In fact, the company hopes to raise around US$100m or more in the coming weeks. Such an amount would valuate Coinbase at over US$1bn. That seems rather high for a cryptocurrency exchange. This news comes as quite a surprise to a lot of people, and rightfully so. Very few people feel Coinbase should be valued at that amount right now.

Moreover, this funding round would set a new record for Bitcoin companies altogether. While it is true the ecosystem needs to grow, putting so much money into a company dealing with issues. Then again, more money means issues can be solved. It remains unclear who would partake in the funding round, though. It is possible previous investors will contribute more money to this platform moving forward.

One thing working in the company’s favor is how interest in crypto-assets is on the rise. This could help attract new investors. Then again, the company raised US$75m in January of this year. It is unclear why they need even more money so quickly after that round, though. Only time will tell if the company will be successful in its efforts to get the money together. A valuation of over US$1bn would be quite spectacular, though.

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