Coinbase acquires crypto investment platform Echo for $375M
Coinbase Global Inc. has acquired Echo, the operator of a platform that enables users to invest in crypto startups by buying their tokens.
The deal values Echo at about $375 million. Coinbase plans to finance the acquisition with a combination of cash and stock. The transaction, which was announced this morning, marks the company’s eighth acquisition since the start of the year.
Nasdaq-listed Coinbase operates a popular crypto exchange of the same name. Over the past few years, the company has expanded into numerous other parts of the crypto sector to sustain its revenue growth. The company’s frequent acquisitions support that growth strategy by extending its product portfolio into new market segments.
Alongside its…
