Blockchain.com

History

2022:25% staff cut due to losses

In July 2022, the Blockchain․com due to losses reduces the staff by 25%, or about 150 people. The company is suspending the development of a number of areas, including institutional lending and NFT. Earlier it became known that the Blockchain․com could lose $270 million due to the collapse of the Three Arrows Capital fund.

2021

Investing in blockchain company Matter Labs

Founded by Ukrainian Alexei Glukhovsky, startup Matter Labs developing a scaling protocol, blockchain Ethereum raised $50 million in a series B funding round, in particular from Blockchain.com. Earlier, in February 2021, the startup raised $6 million through round A. Read more. here

Raising $300 million, estimated at $5.2 billion

At the end of March 2021, Blockchain.com raised $300 million as part of a fundraising round, thanks to which the cost of the company began to be estimated at $5.2 billion. This happened just a month after cryptocurrency startup raising $120 million at an estimate of $3 billion. The main investors were Lightspeed Venture Partners and VY Capital. Partners also took part in the transaction. DST Global

Analysts suggest they venture capitalists are looking to capitalize on the boom bitcoins and other cryptocurrencies. Bitcoins are also purchased by large companies, such as Tesla : Square the company Elona Musk bought bitcoins worth $1.5 billion. Startup Blockchain.com claims to be responsible for 28% of all bitcoin transactions since 2012. The company is mainly known for its digital wallets, which are used to store cryptocurrencies, but has recently switched to trading through its own virtual currency exchange.

DST Global partners invest in $5.2 billion Blockchain.com cryptocurrency service

Blockchain.com founder and CEO Peter Smith said in a blog post that the business is "highly profitable for each of our business areas," and the profitability for the first two months of 2021 already exceeds 2020.

According to Smith, Blockchain.com now has more than 31 million verified customers in more than 200 countries, meaning the startup has tripled its user base over the past 12 months. The company intends to use the funds received from investors to expand its products, increase the number of employees around the world and conduct mergers and acquisitions.

Among other things, the firm has enlisted the support of hedge fund managers such as Louis Bacon and Kyle Bass, as well as billionaire Richard Branson, venture capital arm of Alphabet GV and sponsor Spotify Lakestar.^[1]

Notes