26 Sep '12, 9pm

Coinbase (YC S12), First Crowd Funded Bitcoin Company, Raises Over $600K

Coinbase (YC S12), First Crowd Funded Bitcoin Company, Raises Over $600K

SAN FRANCISCO, CA – Brian Armstrong (Previously AirBnB) founded the first YC backed Bitcoin company . Now, he’s reached an even bigger milestone. Coinbase (YC S12) is now officially the first traditionally crowd funded Bitcoin company (we say traditionally because some Bitcoin companies have raised funds in Bitcoin via the GLBSE stock market). This shows that a lot of people believe in Coinbase and, by proxy, Bitcoin. Some all stars like Y Combinator, Alexis Ohanian (reddit co-founder), Trevor Blackwell (Anybots, YC co-founder) and IDG Ventures have invested in Coinbase. Armstrong, of course, makes it quite easy to believe in Coinbase. He created Coinbase to be the PayPal of Bitcoin and to bring Bitcoin to the masses. Having completed the FundersClub (YC S12) crowdfunding round, Coinbase raised $268,700, a little over its goal of $250,000, from 61 FundersClub members. That...

Full article: https://www.privateinternetaccess.com/blog/2012/09/coinba...

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