Cyber money trading venue Coinbase brings on Balaji Srinivasan as the first-to-be CTO on par with acquiring portal Earn.com, which was founded and has been run by Srinivasan and earlier supported by the VC firm Andreessen Horowitz and twins Winklevoss.
The announcement of the purchase was made on April 16, and Recode reports that the offer was over $100 million. The portal Earn allows users trade cryptos for responding to electronic letters and accomplishing assignments.
Coinbase procures Earn and hires its CEO Srinivasan, who, before dealing with the platform, used to be a prevailing ally at Andreessen Horowitz – one of the most outstanding vencap firms.
Srinivasan is expected to play the role of a tech promoter in the niche of cryptos in general and for Coinbase in particular.
The top exec of the venue Brian Armstrong wrote on a company's blog that Coinbase is welcoming Srinivasan on the post of a chief technology officer.
Armstrong called the new exec one of the most notorious technologists in the niche of cyber assets. He also said that Srinivasan is thought to be among very few genuine virtual money originalists.
At the same time, the conditions of the agreement remain unclear. Notwithstanding the above, in accordance with media reports, there is $100 million at stake.
Who Is Srinivasan And What Will He Do?
Besides having experience in the niche if VC, Srinivasan has read such courses as:
- the blockchain
- data mining
Srinivasan read all of them at Stanford University – an institution where he obtained degrees, comprising MS and Ph.D. in the fields of Chemical Engineering as well as Electrical Engineering respectively.
At Coinbase, he is going to take responsibility for the recruitment of new talents. This is the course that Coinbase has been working on hard in the frame of the past months.
Coinbase Upgrading The Number Of Its High-Class Staff
It is not new when this crypto-bourse tries to attract the most perspective workers.
Last month the company enticed Emilie Choi from LinkedIn. Now she is there to run unique partnerships as well as purchases.
Moreover, the exchange poached Tina Bhatnagar from Twitter. Rachel Horowitz at one point worked at Twitter and Facebook. There, she led the course of communications, and she has also been brought to the crypto-bourse.
Another valuable staff member, which Coinbase has acquired, is Eric Scro. He is known for his previous performance on the post of the exec at New York Stock trading venue. In March Coinbase appointed him to the position of a VP of finance.