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OpenSea becomes a unicorn, heading for a valuation of $ 13 billion

The NFT marketplace OpenSea is reportedly in talks about another round of investments that could bring the company’s value to $ 13 billion.

According to Eric Newcomer, a former Bloomberg journalist and author of the Newcomer newsletter, the deal will be led by Coatue, with the participation of Kathryn Haun’s new crypto fund.

NFT fever turns OpenSea into a unicorn company

Said to be one of the world’s largest NFT markets behavior launched a new round of funding that brings ratings to industry giants like Binance on an equal footing.

Sources familiar with the matter have announced that Coatue, the global investment manager, will lead the way, raising the company’s valuation to $ 13 billion. Dan Rose, President of Coatue Management, could also serve as a supervisor on OpenSea’s board of directors after the investment round is complete.

Kathryn Haun, former general partner of Andreessen Horowitz, will also take part in the event. Haun left the company last month to start his own venture fund. During her tenure at Andreessen Horowitz, she co-chaired all crypto funds and invested nearly $ 3 billion in various projects.

Haun is currently the only board member at OpenSea alongside the two founders Devin Finzer and Alex Atallah and during his time at Andreessen Horowitz led the investment rounds of OpenSea’s Series A and Series B. At the time, OpenSea was valued at $ 1.5 billion.

Last month, OpenSea’s newly appointed CFO Brian Roberts, Disclosure that the company is growing as fast as expected and is definitely considering going public. There is still a long way to go before an IPO, Roberts noted, adding that the company doesn’t really need to “raise more money,” but can conduct investment rounds to acquire the company, partner up and create joint ventures to keep going expand the use of NFTs to new industries.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.