CoinDesk, one of the leading bitcoin news sites, has been acquired by Digital Currency Group according to a post on the company’s site. A source close to CoinDesk tells TechCrunch the price of the deal was around $500-600k.
The bitcoin news site, which launched in 2013, had raised around $2 million in undisclosed funding from investors and according to our source had been trying to sell for months, aiming to find a buyer for a price more in the $800k-$1M range.
Digital Currency Group (DCG), which is a leader in the blockchain/bitcoin scene, had previously invested in CoinDesk. DCG used the opportunity of the acquisition to also reveal the dates and location of their annual Consensus 2016 digital currency event. Our source tells us that this acquisition was largely done as a means of boosting the visibility of the event.
CoinDesk delivers news on the trends, events, technologies and people/companies making major moves in the digital currency sphere. CoinDesk’s Bitcoin Price Index has also served as a popular up-to-the-minute reference for those checking in on the volatile currency.
The blog post says that this sale will allow CoinDesk to scale more quickly to meet the needs of its readers. “As this industry evolves and new players emerge, it’s clear that the informational needs of the individuals and companies in this space are increasing.”