3
Running throughBrick Walls
High above Market Street, Fred and Brian stared at the sun breaking through fog-dappled San Francisco Bay. Coinbase didn’t have anything resembling a real boardroom on Bluxome Street, so they had borrowed space at LendingClub, whose posh corporate headquarters would be the backdrop for a make-or-break meeting.
It was April of 2013—less than a year after Brian’s Y Combinator stint and just five months since they’d turned Coinbase on—and the startup needed more money. Brian and Fred had put all the pieces in place to persuade venture capitalists to open their cash spigots and crown Coinbase with a Series A round—a multimillion-dollar investment that would let the company ramp up operations and signal to Silicon Valley ...
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