Bypassing the usual process a company goes through to go public, Coinbase is taking its company public through a direct listing according to a report in TechCrunch. The company had previously intended to go public in December, but decided to postpone the event.
The company will direct list its Class A common stock which means it can list its shares and they becomes available for trading, removing the need to price and sell a block of new equity and avoiding the elements of a conventional IPO. The company’s decision to direct list should go through once the Securities and Exchange Commission completes its review process.
Coinbase is the biggest U.S. crypto exchange and was recently valued at $8 billion.