SAN FRANCISCO, CA - Brian Armstrong (Previously AirBnB) founded the first YC supported Bitcoin society. Now it has reached an even greater milestone. Coinbase (YC S12) is now officially the first traditionally funded Bitcoin business crowd (we traditionally say because some Bitcoin companies have raised money in the stock market via Bitcoin GLBSE).
This shows that many 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, it is quite easy to believe in Coinbase. He created Coinbase be PayPal Bitcoin Bitcoin and bring to the masses.
After completing the FundersClub (YC S12) crowdfunding round Coinbase raised $ 268,700, just over its goal of $ 250,000, 61-member FundersClub. This represents an average of $ 4,500 per member. The minimum investment was $ 1000 with $ 2500 guaranteed a place in the round. The occasion was initially only available for 10 days, but it was subsequently extended several times. It ended up being available for about one month in total. Coinbase also raised an additional $ $ 350,000 from investors offline.
Brian Armstrong says the funding will go primarily to the construction of a high quality team.
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