Choi comes from LinkedIn where she was vice president of Corporate Development and oversaw a total of 40 M&A-related transactions. Prior to that she worked in business development roles at both Warner Brothers and Yahoo.
The hire makes sense for Coinbase, a fast-growing startup that has had trouble keeping up with user growth and activity — both from a customer service and technical perspective. Having someone to spearhead acquisitions could help on this front — with limited engineering talent in the crypto space it can often make more sense to acquire or acqui-hire a startup either as a way to onboard a bunch of engineers at once or to quickly get a piece of technology without having to build it in-house.
Coinbase says that Choi “will be focused on scaling Coinbase globally, seeking out world-class acquisition and partnership opportunities, and managing our strategic projects.”
So far Coinbase hasn’t had any big acquisitions — but that may change under Choi’s leadership, especially considering the company is now well capitalized from both significant venture funding ($225 million to date) and now from running a super profitable trading business.