Finally, the IPO we’ve been waiting for. Coinbase just filed to go public yesterday — confidentiality of course. It looks like we’ll see this come to fruition in early 2021, and that’s about all we know. Ugh, the suspense… who needs that right now!
They might go the traditional route, they might go with a direct listing, it’s unclear. But when Slack decided to IPO in 2019, they were equally as secretive and ended up using a direct listing. Potentially we’ll see Coinbase take the same route.
The last raise we know Coinbase had was their Series E in late 2018 for $300 million. Have they increased revenues? Not sure. How profitable are they? Who knows. There’s an $8 billion private valuation hanging over their head currently, but that could fluctuate extremely once we get the details closer to their debut.
No one gave two sh*ts about crypto about two years ago. All the hype had worn off, but now this year it’s back in style. Prices of all cryptocurrencies, not just bitcoin, have risen dramatically in the past several months, so going public in early 2021 is perfect timing for Coinbase. It might also be the boost they need from a difficult year. We all know their CEO is, ahem, a character (to say the least), and due to not wanting any employees to participate in political matters (“that weren’t tied directly to the company’s mission”), dozens of people quit.
Do you use Coinbase to trade crypto, or do you prefer another platform? Hit reply and share your opinion!
No More At-Home Meltdowns
If you’re like the rest of us, the number of meltdowns or bouts of struggling with your mental health were… well… a lot more than usual this year. We all know why, let’s not go into details.
Hopefully you’ve gotten comfortable with the idea of seeing a mental health provider, using a mental health app, or finding some other helpful solution to something that can be taboo to talk about. If you haven’t, consider Lyra Health who just raised $175 million in their Series E with a $2.25 billion valuation.
Kind of interesting that this raise is coming just months after their $110 million Series D. Mental health is “so hot right now”, so these raises are coming in faster than we can count. Even Calm, the meditation app (famous for their ads on CNN during election night) raised $75 million earlier this year with a $2 billion valuation.
Their valuation has doubled in just a few, short months, which means Lyra’s grown massively this year. Lyra should bring in about $100 million in revenue before 2021 hits. The cool thing about Lyra is they want to help employers everywhere give employees a “toolbox” if you will of tools that support everyone’s mental health. Considering a lot of employers don’t have the same in-office perks to hand out, this is turning into one of them.
I think giving employees mental health support for free versus cookies, donuts, staplers and candy no one needs is probably a good idea.
Your Website Should Make You Bucko Bucks
Take it from Jamie Jensen, an award-winning copywriter who knows a thing or two about why your website isn’t doing jack sh*t for your conversions. Maybe you have a copywriter on staff who helps you with this stuff, or you and your team have pieced together your words with fingers crossed that it’s “good enough”. Whatever the case, there’s always room for improvement and if you want more sales, your website copy might be the issue.
Jamie suggests “less is more” with your website. The more cluttered it is and the more CTAs (call to action) there are, the more confused your visitor becomes. If only 55% of visitors spend under 15 seconds on your website, you need to make a good first impression FAST while also telling them what to do next. Clear, distinct communication is best.
Remember that every visitor is asking themselves, “What will I get out of this?” or “What’s in it for me?” when visiting your site. If you can answer right away, you’re golden. Also, leave the cleverness for social media. Keep things clear, simple, and even boring. You need to answer the questions in your customers’ head before worrying about sounding quirky or standing out from the rest.
Also, write in your customers’ language. Speak to one client and one client only. Don’t know how? Start sending out surveys, hosting focus groups, or doing private interviews with your targets. You also want to engage your visitor and encourage them to interact with your sales funnel. Writing your website copy in relatable dialogue with clear call to actions is best.
Yup, sometimes boring is better.