Coinbase COIN shares are indicated to trade at $349 per share, according to a Reuters report that came across news terminals on Wednesday morning.
- The number, which is subject to change, is 40% higher than the $250 reference price per share that Nasdaq and Goldman Sachs released yesterday afternoon. It's only slightly higher, however, than what the crypto exchange traded at in the private secondary market, $343.58 per share.
- Different media are reporting various market values for Coinbase. At $349 per share, using the number of shares currently outstanding, 199.2 million, Coinbase would have a valuation of $69.5 billion, a bit more than paint giant Sherwin-Williams. This is how companies are traditionally valued.
- However, using the number of shares if all options were exercised, 261.3 million, the exchange would have a value of $91.1 billion, a figure that's being thrown around a lot today.
UPDATE (April 14, 15:05 UTC): Adds price in the secondary private market.
UPDATE (April 14, 15:50 UTC): Adds explanation for different market values.
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