Following its April 14 initial public offering on the Nasdaq stock exchange, Coinbase is building a media team, according to Axios.
The company is reportedly planning to hire an established media editor as VP of content and editorial and bring on approximately 30 staffers who’ll report to the new hire. Functioning as part of the marketing department, the media operations team will assist in supporting business goals and with communications to convey the company’s messaging.
The group’s goal would be to create content for both retail and institutional investors to attract more people to the platform, according to Axios.
Founded in 2012, Coinbase is the largest cryptocurrency exchange in the U.S., according to The Wall Street Journal. It has 1,700-plus employees, 56 million users and $335 billion in quarterly volume traded.
In Q1 2021, Coinbase earned $771 million, a year-over-year increase of $32 million. Total revenue was reported at $1.8 billion, up from $191 million.
Brunswick Group, which advised on the company’s public listing, declined to comment on the Axios article.
This story was updated on May 18 to correct Coinbase’s IPO agency partner.
This story first appeared on PRWeek US.