Arguably the worlds most popular cryptocurrency wallet and exchange platform, Coinbase, has bought out a data collection startup in San Francisco called Blockspring.
Blockspring is a company that collects data and then creates methods by which its customers can use that data in the development of application programme interfaces (API’s). It helps companies build lead lists, automate marketing reports and integrate live data into their websites. It features a varied pricing structure to accommodate any size business and reportedly already serves thousands of clients.
Coinbase didn’t disclose how much was spent on the acquisition but it’s unlikely to have made much of a dent in the company, which was recently valued at $8-billion. The new purchase is believed to be a talent-related acquisition, with Blocksprings staff now joining the Coinbase team. However, current and new customers will still benefit from Blockspring services for the immediate future.
Coinbase has made several other acquisitions over the past few years, including most notably that of Keystone Capital, the securities dealer that provided Coinbase with the licenses necessary to begin dealing in security tokens. The company completed a successful funding round of $300 million in October last year and continues to make investments via its Coinbase Ventures subsidiary.
In addition to the expansion of its business operations, Coinbase has also begun to expand its reach into the charitable sector with the launch of GiveCrypto.org – a website that helps donate cryptocurrency to poverty-stricken nations. Part of the drive included the donation of $10,000 in Bitcoin to Syrian refugees living in Greece last December.