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“Create an open financial system for the world” |
| Founded: 2012 in San Francisco, USA
Category: Financial technology (Cryptocurrency) Primary office: San Francisco, CA (USA) Core technical team: San Francisco, CA (USA) Status: Private Employees: 1100+ Amount raised:$547.3 million (9 rounds – December 2018 |
OVERVIEW
PERFORMANCE METRICS
ACHIEVEMENTS
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Sells
- Global Digital Asset Exchange (GDAX): Trading a variety of digital currencies on its professional asset trading platform – management of portfolio, recurring buys, vault protection)
- API: Online interface for developers and merchants to build applications and accept payments in digital currencies
Channels
- Integration with banks and online payment services such as Visa
- Affiliates and Digital Marketing – via social media; Facebook, Twitter
- User Friendly Omni-channel platform (web and mobile – Android & iOS)
Competencies
- Founder-led management team
- Cyber-secured online platform for digital transactions
- Blockchain technology/Machine learning/Artificial Intelligence/Data analytics
Resources
Assets
- Partnership with various banks and online payment services across the world
- 1,100+ employees in 6 offices across 4 countries
- Secure offline storage
- Platform – GDAX – supports cryptocurrency market with multiple security assets
Priorities
- Easy to use Online Interface
- Provides real-time access to cryptocurrency trade information to assist users’ decision-making
- Interactive online learning environment for users
- Fast, easy and convenient means of online payment with direct links to bank accounts
- Industry best practices (e.g., FIPS 140, SSL, AES-256 encryption, two step verification, employee criminal background checks)
- Insurance policy for cryptocurrency stored on Coinbase servers – 100% payback if on-line storage compromised
- 98% of customer funds are stored offline
- User accounts are linked directly to bank accounts for ease of transaction
Priorities
- Improve efficiency of User Interface in high volume/peak periods
- Increase Cybersecurity of platform for continuous security of customer information and funds.
- Acquiring complementary assets – e.g., Neutrino, Blockspring Keystone and DigitalWealth
- To become the google of cryptocurrencies
Assertions That Best Describe What the Company Did to Scale Early, Rapidly & Securely
- Continuously improve company cybersecurity by i) Assessment of cyber risks to company (Risk analysis); ii) Implementation of cybersecurity measures (Protect); iii) Rapid identification and response to cyberattacks (Monitor); and iv) Reduction of cyberattack impact (Respond)
- Continuously seek and receive funding to support the company scaling master plan and improve its brand in the marketplace
- Enter a new market by partnering with or purchasing local companies
- Hire, develop and partner with talented people who have experience scaling companies, many connections and good reputations
- Apply big data analytics to produce information about users, suppliers and customers and suggest questions
- Build capability to operate across borders early
- Lead a team that is innovative, talented, diverse, focused, committed, and fully understands what their responsibilities are and where they fit in with scaling the business
- Use scientific and technological advances to develop innovative products and services
References
- 2020. Coinbase. https://www.owler.com/company/coinbase
- Coinbase website. https://www.coinbase.com/
- Crunchbase 2020. Coinbase funding rounds. https://www.crunchbase.com/organization/coinbase#section-funding-rounds
Contributors
- Damilola Balogun
- Yinka Olanrewaju-Olawepo