Heres who just got rich from the Coinbase debut
Summary
By 2013, venture capitalist Fred Wilson had established himself as a preeminent investor in consumer tech, having made early and highly lucrative bets on Twitter, Zynga, Etsy and Tumblr. Coinbase becomes the latest tech company to generate outsized returns for venture investors, thanks to mammoth valuations from the public markets and the accelerating growth of the digital economy. Those IPOs took place after the venture firm warned its portfolio companies in March that the coronavirus was a "black swan" event that would hurt business activity, disrupt supply chains and impede financings. By the time Barry Schuler of DFJ Growth got into the mix in late 2014, crypto had broad enough acceptance that more traditional Sand Hill Road firms were taking a close look. Schuler said he wanted to lead the Series C, but he needed to make sure that Wilson and Coinbases co-founders Brian Armstrong and Fred Ehrsam were ready to set up a board and get all the regulatory pieces in place to protect investors.