Here's how the headline SHOULD read; Coinbase Pays $100M Signing Bonus to New Chief Technology Officer. At least Coinbase got the whole company (Earn.com) that their new CTO was working for. Seems Earn.com's co-founder and CEO, Balaji Srinivasas, was also a previous general partner at Andreesssen Horowitz before landing this new CTO gig. Oh, what does Earn.com do? They pay users in digital currency to "respond to emails and complete certain tasks". $100M? I can do "certain tasks" for half that. Interesting.
(Bill Taylor/Managing Editor)
"Coinbase Inc. purchased Earn.com, a business that allows users to get paid in digital currency when they respond to emails and complete certain tasks.
Earn.com co-founder and Chief Executive Officer Balaji Srinivasan, who was previously general partner at Andreessen Horowitz, will join Coinbase as chief technology officer, the San Francisco-based cryptocurrency exchange said in a blog post Monday.
The terms of the transaction weren’t disclosed, but Axios reported earlier this month that the companies had discussed a purchase price of more than $100 million."
This story was provided by Bloomberg