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Coinbase buys, makes Indian-American Balaji Srinivasan its CTO

ANI  |  New York [U.S.A] 

Prominent cryptocurrency exchange, Coinbase, in a deal worth more than USD 120 million, announced its significant plan to buy the startup that uses for its paid-email service,

also appointed Indian - American, Balaji Srinivasan, co-founder and CEO, as its first CTO, reported.

The rest of the team from will also transition over.

"With Coinbase's user base and distribution muscle, I think it could hit USD 100 million in accounting rate of return (ARR) in a few months. I'm proud of the fact that we turned what could have been a disaster into a successful product and I'm excited about the road ahead," quoted as saying.

A graduate, who holds a BS, MS and PhD in Electrical Engineering and an MS in Chemical Engineering, Srinivasan is highly prized in Silicon Valley.

He sits on the board at power investor firm and is known for being an early evangelist of and technology.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 17 2018. 11:20 IST