In March 2012, Garry Tan got an email from the founder of Bitbank. The founder was none other than Brian Armstrong. Armstrong was acquainted with Tan as Tan was a former entrepreneur. Armstrong communicated his need for a co-founder through the email. interview capital tan coinbase ohaniankonradforbes.
Tan replied cryptically and showed interest. Tan was a big fan of Armstrong as he ranked him an infinite score in YC’s admissions software platforms. When Coinbase went out to collect its first capital, Tan and his fledging venture was quick to invest. initialized capital tan coinbase ohaniankonradforbes.
The fledging venture is Initialized Capital. The result is a historic venture return. It quickly converted a few hundred thousand dollars into a stake worth hundreds of millions. The $300,000 combined seed stage of Initialized into Coinbase translated to a stake of 0.66% of the cryptocurrency exchange at the time of public offering. initialized garry tan coinbase.
The stake rose to 0,8% when some additional factors are considered. Recently Coinbase went public with direct listing on Nasdaq. Tan was able to make a fortune with his skills and collaboration with Armstrong. Nowadays, Tan is leading Initialized and its three founders. Their main aim is to augment the competency of their company and develop its credibility in the Silicon Valley. initialized capital garry coinbase ohaniankonradforbes.
Tan is of the view that he has the golden ticket. He added that the whole team is excited to develop the next large platform. The founders of Initialized were intrigued by the vast potential of Bitcoin. Armstrong possesses engineering experience in working first-hand on Airbnb’s payment systems. He always seemed a great asset for the company to tackle the incoming challenges. There is no denying that Tan can serve as an inspiration for numerous tech entrepreneurs