Coinbase Buys Crypto Payments Firm, Gets First Technology Chief

(Bloomberg) -- Coinbase Inc. purchased Earn.com, a business that allows users to get paid in digital currency when they respond to emails and complete certain tasks.

Earn.com co-founder and Chief Executive Officer Balaji Srinivasan, who was previously general partner at Andreessen Horowitz, will join Coinbase as chief technology officer, the San Francisco-based cryptocurrency exchange said in a blog post Monday.

The terms of the transaction weren’t disclosed, but Axios reported earlier this month that the companies had discussed a purchase price of more than $100 million.

To contact the reporter on this story: Lily Katz in New York at lkatz31@bloomberg.net.

To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net, Jeremy Herron at jherron8@bloomberg.net, Dave Liedtka, Brendan Walsh

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