This has theymos/GLBSE written all over it.
Just to be clear I am not affiliated with Coinbase Inc and have no insider knowledge nor am I aware of any negative news regarding the company.
10 million shares have been issued of which 200,000 represents 2%. Looking for offers over $20k. As far as I'm aware no accounts are available yet but as a shareholder you would be entitled to view them and are also entitled to dividends although none have been issued as yet.
Thanks. I see value in coinbase. I like its existing angel investor list too.
However, one thing should be clarified:
Coinbase has raised money from ycombinator, fundersclub and private investors.
While the ycombinator deal would have meant issuance of 10 million shares, I believe the fundersclub deal and the private investors deal would be done using convertible notes.
So the number of total shares will be a lot more than 10 million when these notes convert. 200,000 shares won't represent 2% of the company.
(My estimate is it will represent 0.25% to 0.5% of the company. But thats just an educated guess. And I could be off by as much as a decimal point.)
I had sent an email to Brian yesterday asking for more details on convertible note valuation caps but have yet to hear back from him. I will make my offer once I hear from him. (If you think you can connect both of us for maybe a faster response, please do.) Thank you.
