Cryptocurrency brokerage Coinbase is preparing to make the largest acquisition in its nearly seven-year history, sources close to the situation say. Citing people “directly involved with the discussions,” CoinDesk reports that Coinbase is in talks to acquire Earn.com, a platform that allows users to earn cryptocurrency by replying to emails and completing other microtasks such as registering for token airdrops or completing surveys.
At present, Earn.com pays users in Bitcoin, but the company plans to develop its own cryptocurrency, the “Earnable Token,” though it does not plan to hold an initial coin offering (ICO).
In 2015, Earn.com — formerly known as 21 Inc. — raised $116 million in a series of funding rounds, setting a then-record for cryptocurrency-related startups.
Sources told the publication that Earn.com is currently in talks with several potential buyers in addition to the San Francisco-based Coinbase and that the company could fetch a total compensation package north of $120 million, though some gave figures as low as $30 million.