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Cryptocurrency exchanges Coinbase and Ripple have failed to secure spots in the LinkedIn’s top 10 startups list for 2019.
As per a new list published on Sept. 4 by the network, Coinbase and Ripple, which were considered two of the best crypto startups in 2018, ranking at 3rd and 7th, respectively, have slid down to the 29th and 28th places.
LinkedIn, an American business and employment-oriented service provider, analyzed US companies based on four criteria: employee growth, jobseeker interest, member engagement with the company and its employees, and how well startups pulled talent from LinkedIn Top Companies list.
For this year, Snowflake Computing, a cloud-based data-warehousing firm, was named as the top startup. The fully managed Silicon Valley-based firm with a pay-as-you-go model almost tripled its employee count, increased revenue by 257%, and doubled its valuation to $3.9 billion over its last fiscal year.
Meanwhile, Dosist, which has also been named by Fast Company as one of the top 10 most innovative companies in the health industry in 2018, secured the second spot. IoT startup Samsara snatched the 3rd spot, replacing Coinbase.
Robinhood, clinching at number 7, is the only company among the top 10 to offer commission-free trading for stocks, exchange-traded funds, options, and cryptocurrencies.
The news follows after Coinbase, in recent months, has seen a number of departures within and outside its leadership team. The latest departure was from its former chief technology officer Balaji Srinvasan, who moved to DeFi blockchain project Findora as a strategic advisor.
Reports have also surfaced that Tim Wagner, Coinbase Vice President of Engineering is leaving the company. The company's product counsel for institutional products Andrew Ridenour, chief operating officer Asiff Hiriji, senior director of engineering Namrata Ganatra, and director of design Connie Yang have all left the exchange.
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