Blockchain.com IPO: Everything We Know So Far

April 7, 2023 4:00 pm
Published by: Benjamin Baxter

With over 80 million accounts and 30 million verified users, Blockchain.com is undoubtedly one of the biggest online cryptocurrency platforms in the world. It's been around since 2011 and accounts for nearly 30% of all Bitcoin transactions.

Through the Blockchain app and website, users can buy, trade, and sell popular cryptocurrencies like BTC (Bitcoin), ETH (Ethereum), Stellar lumens (XLM), and others at lightning-fast speeds. The company's trading prices are lower than most other cryptocurrency exchanges as per industry standards, making it a top choice for crypto traders.

The Blockchain IPO is yet to boast a date, but experts believe there's a high chance that it'll go public sometime in 2023, if not early 2024. This article discusses everything we know about the Blockchain.com IPO, including its funding rounds, valuation, and IPO date.

About Blockchain.com

Founded in 2011, Blockchain.com is a financial service company that primarily deals with cryptocurrency. It offers ways to trade, sell, hold, buy, and use cryptocurrency with your card or bank account through a single app.

The crypto-wallet app accounts for nearly 30% of Bitcoin transactions worldwide and remains to be one of the most popular and frequently used cryptocurrency platforms. The app has been downloaded over 20 million times on Android and iOS combined.

Brief History of Blockchain.com

Blockchain.com was founded by entrepreneur Ben Reeves.

Reeves initially launched Blockchain.com—which used to be called Blockchain.info—as a way to track Bitcoin transactions. As the website grew in popularity, Reeves proposed a Bitcoin payment platform that allowed users to trade, sell, and purchase Bitcoin (and other cryptocurrencies) for a percentage fee.

The idea took off near-instantly. In under a year, Blockchain's user base grew from 100,000 users to over 1.5 million users. The massive spike in revenue allowed Blockchain to acquire ZeroBlock and RTBTC, which it had merged into a single platform to further streamline Blockchain's data analytics services.

By 2014, Blockchain was crowned as the world’s most popular Bitcoin wallet. That same year, the company raised $30.5 million in its first fundraising round, the biggest in the digital sector at the time, and another $40 million in funding three years later.

In 2022, Blockchain.com reached over 81 million users. The company is said to have a valuation of $14 billion.

Blockchain.com Funding Rounds

Blockchain.com has raised nearly half a billion dollars in funding over nine rounds, without counting the undisclosed Series D.

Date

Funding Amount

Funding Name

Lead Investors

Oct 14, 2022

Undisclosed

Venture Round

Kingsway Capital

May 17, 2022

Undisclosed

Secondary Market

Undisclosed

Mar 30, 2022

Undisclosed

Series D

Lightspeed Venture Partners

Baillie Gifford

Mar 24, 2021

$300M

Series C

Baillie Gifford

LG Group

DST Global

Vy Capital

Lightspeed Venture Partners

Feb 17, 2021

$120M

Venture Round

Undisclosed

Mar 27, 2019

Undisclosed

Non-Equity Assistance

Future Fifty

Jun 22, 2017

$40M

Series B

Lakestar

Oct 7, 2014

$30M

Series A

Undisclosed

Blockchain.com Plans for Initial Public Offering

As of June 2023, Blockchain has yet to announce an official IPO date.

According to reports by Bloomberg, blockchain was seen interviewing banks for an IPO in 2022. This led investors to believe the UK-based cryptocurrency company may launch the IPO sometime in 2023.

Following a funding round led by Lightspeed Venture Partners, the company's valuation reached an impressive $14 billion—more than double its valuation of $5.2 billion in March 2021.

Blockchain has managed over 82 million wallets across 200 countries, with transactions totalling $1 billion since its inception. Blockchain.com didn't confirm nor deny its interest in going public and declined to provide further information about the issue.

How Does Blockchain.com Make Money?

Most of Blockchain's revenue comes from transactional fees, which run from 0.20% to 0.40% based on the volume scale. Blockchain also charges a withdrawal fee of $1 to $25, depending on the withdrawal amount.

Blockchain likewise earns money through software services. The company charges businesses, miners, and developers to use its cloud infrastructure, data stores, and API.

Conclusion

Blockchain.com has yet to announce an official IPO date, but experts believe that an IPO may occur sometime this year, if not early 2024.

When asked about potential IPO plans, Blockchain refused to comment. To date, the company has a valuation of $14 billion and raised nearly half a billion dollars in funding.

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The information in this article is well-researched and factual. Still, it contains opinions also, and IT IS NOT FINANCIAL ADVICE and should not be interpreted as such, do not make any financial decisions based on the information in this article; we are not financial advisors. We are journalists. You should always consult with a professional before making any investment decisions. We hold no stock or interests in any of the Companies discussed on this website/app.

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