Blockchain.com IPO: Valuation $4-6 Billion, 57% Below 2022
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Blockchain.com is reportedly looking to raise around $500 million in a US IPO this year, testing investor demand for another crypto listing – after a strong recovery in cryptocurrency prices reopened a potential window for new deals. The crypto exchange and wallet provider is negotiating a valuation of approximately $4 billion to $6 billion, according to people familiar with the matter. The company could reduce the size of the offering if necessary to complete the listing. The terms now disclosed provide further details on a process that officially began in May when Blockchain.com confidentially filed a draft S-1 registration statement with the US Securities and Exchange Commission (SEC). At that time, the company did not disclose the number of shares, price range, or target valuation. A confidential filing allows Blockchain.com to address SEC inquiries before detailed financial reports are published and the offering is officially marketed. The IPO thus remains dependent on regulatory review and market conditions. The proposed valuation would place Blockchain.com well below the $14 billion attributed to the company in a private funding round in March 2022 – towards the end of the previous crypto funding boom. A valuation of $6 billion would represent a decline of approximately 57% from that peak, while the lower end of the reported range would value the company about 71%...
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