Cover image via CoinGecko
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Malaysia-headquartered cryptocurrency market data and analytics company CoinGecko is reportedly considering a sale at a valuation of USD500 million (RM2 billion)
According to CoinDesk, the prominent crypto data platform has appointed investment bank Moelis to advise on the potential sale, two sources familiar with the matter told the outlet on condition of anonymity.
However, another source noted that it is still too early to determine CoinGecko's exact valuation, as discussions about the sale only began late last year.
CoinDesk reported that CoinGecko did not respond to requests for comments on the matter, while Moelis declined to comment.
Meanwhile, CoinGecko's co-founder and CEO Bobby Ong hinted at the development in a LinkedIn post yesterday, 15 January, stating that the company is currently evaluating "strategic opportunities".
He explained that the move aims to accelerate CoinGecko's growth and strengthen the value it provides to an expanding base of enterprise clients, as well as millions of users who rely on its platform.
What is CoinGecko?
Founded in 2014, CoinGecko has become a leading cryptocurrency data aggregator, often mentioned alongside peers such as CoinMarketCap.
It is not a trading platform like Coinbase Exchange or Binance, where users buy and sell cryptocurrencies. Instead, it provides real-time prices, market cap, and trading volume of cryptocurrencies, integrated with information about the coins' tokenomics, news, and tools for in-depth analytics, among other features.
It is a go-to platform for millions of users to check the latest prices of Bitcoin, Ethereum, XRP, Solana, Dogecoin, and other cryptocurrencies.
On its About page, the company claims to be the world's largest independent cryptocurrency data aggregator, tracking over 18,000 different crypto assets across more than 1,000 exchanges worldwide. It also monitors over 2.4 million tokens through its decentralised exchange (DEX) tracker tool.
The company reports 200 million monthly page views and 10 million active monthly users. However, CoinDesk noted that changing user behaviour, with more people turning to AI for information, led to CoinGecko's page views dropping to 18.5 million last month, down from 43.5 million during the same period a year earlier.
A photo of the CoinGecko team in 2023.
Image via CoinGeckoTracking cryptocurrency prices is no easy task, especially given the vast number of coins CoinGecko tracks, including small-cap tokens
The company has about 70 employees from Malaysia, Singapore, and the Philippines, with its headquarters in Bandar Utama, Petaling Jaya.
It hires talent in software engineering, marketing, sales, business development, and other areas.
CoinGecko generates revenue through advertising, sponsored content, affiliate partnerships, and the sale of crypto data via premium API services for institutional clients, including major industry players such as MetaMask, Coinbase, and crypto.com.
In a tweet this time last year, Ong announced that the company had reached record revenue, prompting a bonus payout equivalent to nine-months' salary for employees.
Left to right: CoinGecko founders TM Lee and Bobby Ong.
Image via CoinGeckoThe company's potential sale comes amid a period of heightened mergers and acquisitions activity in the market
Tech In Asia reported that major deals last year include Coinbase's USD2.9 billion (RM11.7 billion) purchase of Deribit, and Kraken's USD1.5 billion (RM6 billion) acquisition of NinjaTrader.
In 2020, Binance bought CoinMarketCap for USD400 million (RM1.6 billion).
The consolidation reflects a maturing market, with buyers looking for scale, regulated infrastructure, and strong, defensible data assets, reported Fintech News Malaysia.
