Coinbase has acquired Echo, an onchain fundraising platform, for about $375 million, consisting of a mix of cash and equity.
Echo’s platform makes raising and investing more accessible to community members, whether through an Echo private sale or a public sale using Sonar. By joining forces, Coinbase makes it easier for companies to raise capital and grow, and provides the community with early access to unique investment opportunities.
Founded by Cobie, a crypto OG and longtime advocate of community-driven investing, Echo has pioneered tools that make fundraising more inclusive, transparent and efficient.
While Coinbase will start with cryptocurrency sales through Sonar, Coinbase plans to expand support for tokenized and real-world securities over time by leveraging Echo’s infrastructure.
Echo has already made strides in opening up the private markets by helping projects raise $200M+ over ~300 completed deals since launch. Sonar’s new self-hosted public token sale product has also seen early success, helping Plasma’s XPL token sale.
Coinbase commented:
“With this acquisition, we are building a full-stack solution for crypto projects and investors, covering everything from launch to fundraising to secondary trading.
- For builders: Easier access to capital and community-aligned fundraising tools like Echo for private equity groups and Sonar for self-hosted public token sales
- For Investors: New, diversified opportunities that were previously out of reach, either through a trusted platform like Echo or direct offerings with Sonar
- For the chain economy: A more efficient, transparent and globally accessible capital market that drives innovation and growth.”