Coinbase’s Newest Acquisition Is Blockspring

Committed to its campaign of expansion in terms of not just quantity, but quality, the US-based digital asset exchange, Coinbase has added another acquisition to their list.

Blockspring, a San Francisco-based firm that develops software for collecting and processing data from APIs, is the newest acquisition of Coinbase.

Back on January 14th, Blockspring took to its blog to announce this deal, shortly after which, it made the headlines in leading crypto news outlets. Coinbase has confirmed the veracity of this claim.

Paul Kalsen, the co-founder and CEO at Blockspring, wrote on the blogpost:

Joining Coinbase was a no-brainer for a number reasons including its commitment to establishing an open financial system and the strength of its engineering team, led by Tim Wagner (formerly of AWS Lambda).

Making the technical simple and accessible is what we’ve always been about at Blockspring. And now we’ll get to push these goals forward along with the talented folks at Coinbase to make something greater than we could on our own.

Founded back in 2014, Blockspring has evolved over the years, having started out as a serverless data management business for corporate clients, to now offering their services to companies that work with API data.

Their services include API data management for sales and marketing, generating reports, and building repositories for recruitment and other types of HR services.

This latest acquisition on the part of Coinbase comes as a string of companies have already been integrated with the giant exchange. It is probably the exchange’s 11th major acquisition.

Interestingly enough, the venture capitals that funded Blockspring, namely Andreessen Horowitz and SV Angel also invested in Coinbase. However, Blockspring maintains that no drastic change will take place post this merger since they will continue to provide services “for current and new customers as they always have.”

Coinbase has already raised $525 million in capital to keep it afloat and is expected to acquire more companies in the future.