From Pymnts · PYMNTS · · 1m 10s
Blockchain.com Targets $6 Billion IPO Valuation
Blockchain.com aims for $6 billion IPO valuation as crypto rallies.
In brief
Blockchain.com aims for $6 billion IPO valuation as crypto rallies. Blockchain.com seeks $6 billion valuation in upcoming IPO amid crypto market recovery. Originally reported by Pymnts.
IPO Plans
Blockchain.com aims to go public this year, raise about $500 million in the initial public offering, and secure a valuation of between $4 billion and $6 billion in the listing.
Current Status
Blockchain.com is in talks with potential investors, and the details could change.
SEC Registration
Blockchain.com announced in May that it had confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission for an IPO.
Recent Funding
Blockchain.com raised $110 million in a Series E funding round in November 2023, valuing the company at less than half the $14 billion it reached in 2022.
Market Context
Since mid-August, bitcoin is up 33% as the crypto market recovers after bitcoin prices plummeted about a year ago.
NYSE Collaboration
Blockchain.com and NYSE signed a memorandum of understanding to enable users to access tokenized U.S. exchange-listed equities and exchange-traded funds on the NYSE’s digital alternative trading system.
The headline
Blockchain.com seeks $6 billion valuation in upcoming IPO amid crypto market recovery.
