Crytpo exchange Kraken plans private listing at $4B valuation: Report

Cryptocurrency exchange Kraken is reportedly considering a private offering and has sent out emails to its high-value clients informing them about the investment opportunity, Finance Magnates reported.

Kraken’s efforts follow Coinbase’s $300 million Series E round in October which brought the latter to “a post-money valuation of over $8 billion.”

According to the contents of the email, as viewed by Finance Magnates, Kraken said that it is not in need of financing. However, in the wake of the crypto bear market and the company’s reserves, it sees “opportunities for acquisitions.”

The company also said that it is seeking a $4 billion valuation through this private listing. The minimum investment size will be $100,000.

“The transaction process will be done by a 3rd party service, who will run accredited investor checks, facilitate the execution of transaction documents, and the funding of your investment,” Finance Magnates quoted the email.

Clients who have received the email have been asked to fill an online survey. Kraken will assess each prospective investor’s eligibility to take part in the share offering. The customers have to respond to the survey by December 16.

Founded in 2011, Kraken is a leading U.S.-based cryptocurrency exchange backed by Money Partners Group, SBI Investment, Hummingbird Ventures, Trace Mayer, Barry Silbert, and others. According to Crunchbase, Kraken’s total funding amount till date stands at $11.5 million.

The company has also made a number of acquisitions including Cryptowatch, Glidera, CleverCoin, Cavirtex, and Coinsetter.