Coinbase may be targeting an astronomical valuation when it goes public in the coming weeks, but it’s yet to give investors an indication of what kind of prices people are willing to pay in the private market, CNBC reports.
Instead of going public through an IPO, Coinbase is following companies like Spotify, Slack and Palantir by pursuing a direct listing. But Coinbase is very different in one critical way: All of those companies were able to show investors a history of substantial private trading in their stock to provide a sense of demand. Read more.
