Blockchain.com targets $500 million US IPO at valuation up to $6 billion, Bloomberg reports
London-based crypto firm Blockchain.com is preparing a U.S. initial public offering before year-end, seeking to raise roughly $500 million at a valuation between $4 billion and $6 billion, according to Bloomberg.
Blockchain.com is pitching prospective investors on a public listing before the end of the year, targeting approximately $500 million in an initial public offering, Bloomberg reported, citing people familiar with the matter. The London-based company is seeking an offering valuation between $4 billion and $6 billion, though talks remain ongoing and the firm may consider a smaller raise depending on market conditions.[1][2][3][6]
The company previously announced on May 21 that it had confidentially submitted a draft S-1 registration statement to the Securities and Exchange Commission. According to sources cited by Bloomberg, Blockchain.com has recorded three consecutive years of adjusted profitability, though its reported target valuation sits well below its peak. After reaching a valuation of $14 billion in the spring of 2022, the company raised $110 million in a 2023 Series E round led by Kingsway Capital that cut that valuation by more than half.[3][4][5][7]
Founded in 2011 as a bitcoin block explorer and wallet provider before expanding into exchange and institutional offerings, Blockchain.com has also been pushing into traditional finance infrastructure. On Sept. 23, the platform signed a memorandum of understanding with NYSE Group to offer users access to tokenized U.S. stocks and exchange-traded funds on the NYSE's planned digital trading platform.[3]
Key facts
- Blockchain.com is targeting a U.S. IPO this year to raise about $500 million at a valuation between $4 billion and $6 billion, according to Bloomberg.
- Blockchain.com announced on May 21 that it had submitted a confidential draft S-1 registration statement to the SEC.
- Sources cited by Bloomberg reported that Blockchain.com has generated three consecutive years of adjusted profitability.
- The reported $4 billion to $6 billion valuation is down from a peak of $14 billion in spring 2022, which dropped by more than half after a $110 million Series E round in 2023.
- The company may consider a smaller raise and offering terms remain subject to change.
- Blockchain.com signed a memorandum of understanding with NYSE Group on Sept. 23 to enable user access to tokenized U.S. stocks and ETFs.
Sources · 7 sources
- CO
CoindeskArticle ·
Blockchain.com targets $500 million IPO this year at up to $6 billion valuation The London-based crypto services company confidentially filed for an initial public offering with the Securities and Exchange Commission earlier this year.
Open source - TE
Techmeme@TechmemePost on X ·
Sources: Blockchain․com tells prospective investors it wants to go public this year, seeking to raise about $500M in an IPO targeting a $4B to $6B valuation (Bloomberg) (Visit Techmeme dot com for the link and full context!)
Open source - UN
UnchainedArticle ·
Blockchain.com Reportedly Eyes $500 Million IPO at $4 Billion to $6 Billion Valuation Blockchain.com has told prospective investors it plans a public listing before year-end, seeking about $500 million in an initial public offering, Bloomberg reported on Monday, citing people familiar with the matter. The company is aiming for a valuation of $4 billion to $6 billion and would weigh a smaller raise if needed, Bloomberg quoted one source as saying. Talks are still underway and the terms could shift, according to the report. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . From Confidential Filing to Pitch Blockchain.com announced on May 21 that it had confidentially submitted a draft S-1 registration statement to the SEC. At the time, it said the number of shares and the price range had not been set, and that the offering depended on market conditions and the SEC’s review. Blockchain.com has posted three straight years of adjusted profitability, Bloomberg quoted sources as saying. It had considered going public as early as 2022, according to earlier Bloomberg reporting. The reported IPO target would sit well below the company’s peak. Blockchain.com raised $110 million in a Series E round led by Kingsway Capital in 2023, which Bloomberg reported valued it at less than half the $14 billion it was worth in the spring of 2022. Founded in 2011, Blockchain.com began as a bitcoin block explorer and wallet provider before adding exchange and institutional services. Tokenized Stocks and a Crowded Pipeline Last week, the company signed a memorandum of understanding with NYSE Group to give its users access to tokenized U.S. stocks and ETFs on the NYSE’s planned digital trading venue, subject to any required regulatory approvals. “Tokenized stocks are one of the most impactful advancements in the modern financial landscape, and a key catalyst for greater economic freedom,” Peter Smith, Blockchain.com’s co-founder and CEO, said in the Sept. 23 announcement. Other crypto firms are also lining up for public markets. Kraken parent Payward is preparing a listing, though Bloomberg reported in May that its debut may slip to 2027 . Gemini and Bullish went public last year. Related Listen: Why the Crypto Market Cap Could Reach $50 Trillion This Cycle The post Blockchain.com Reportedly Eyes $500 Million IPO at $4 Billion to $6 Billion Valuation appeared first on Unchained .
Open source - WS
Wall St Engine@wallstenginePost on X ·
BLOCKCHAIN .COM TARGETS $500M U.S. IPO AT $4B-$6B VALUATION The crypto platform confidentially filed with the SEC earlier this year and has reportedly been profitable on an adjusted basis for the past three years. Blockchain was valued at $14B in 2022 before a later funding round cut that valuation by more than half. The company could opt for a smaller raise if needed, and terms may still change. Source: Bloomberg
Open source - CB
Crypto Briefing@Crypto_BriefingPost on X ·
📈 NEW: https://t.co/SLfYrS6i1I is targeting a $4B to $6B valuation in a potential US IPO this year, with plans to raise about $500M. The company confidentially filed for an offering with the SEC in May and could pursue a smaller deal depending on market conditions. https://t.co/HsCR33JgMv
Open source - TB
The Block@TheBlockCoPost on X ·
NEW: Blockchain .com is seeking to raise about $500 million in an IPO this year at a valuation of between $4 billion and $6 billion, Bloomberg reported, citing people familiar with the matter. The company filed confidentially for a U.S. listing earlier this year and would consider a smaller raise if needed. Deliberations are ongoing, and details of the offering could change.
Open source - CT
Coin TelegraphArticle ·
Blockchain.com eyes $500M IPO as crypto capital markets thaw: Report The crypto company is seeking a valuation of up to $6 billion, well below its 2022 peak, as recently listed crypto stocks struggle to hold their gains.
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