Crypto Exchange Kraken Considers Private Listing at $4B Valuation – Report

News and Analysis

Leading U.S.-based bitcoin exchange Kraken is considering a private offering and has sent out emails to its high-value clients informing them about the investment opportunity, Finance Magnates reported.

If confirmed, Kraken’s efforts follow Coinbase’s $300 million Series E round in October which brought the company to “a post-money valuation of over $8 billion.”

According to the contents of the email, as viewed by the publication, Kraken said that it is not in need of financing. However, in the wake of the crypto bear market and the company’s reserves, the exchange sees “opportunities for acquisitions.”

The company also said that it is seeking a $4 billion valuation through this private listing, with the minimum investment size being $100,000.

“The transaction process will be done by a 3rd party service, who will run accredited investor checks, facilitate the execution of transaction documents, and the funding of your investment,” reads the quoted email.

Clients who have received the email have been asked to fill an online survey. Kraken will assess each prospective investor’s eligibility to take part in the share offering. The customers have to respond to the survey by December 16.

Founded in 2011, Kraken is backed by Money Partners Group, SBI Investment, Hummingbird Ventures, Trace Mayer, Barry Silbert, and others. According to Crunchbase, the San Francisco-based company’s total funding amount to date stands at $11.5 million.

The company has also made a number of acquisitions including Cryptowatch, Glidera, CleverCoin, Cavirtex, and Coinsetter.

In September of this year, Kraken announced a major expansion to its OTC trading platform enhancing enhance the execution of large block trades for clients worldwide.

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