Alliance of VCs commit to helping portfolio companies set aside stock for social impact on path to IPO; $1B in new philanthropy already ignited in the last year by companies like Coinbase, UiPath, and Unity

(San Francisco, Calif. – June 8, 2021) — Pledge 1%, a global movement to inspire, educate, and empower all companies to leverage their assets for good, today announced the launch of Boardroom Allies. The founding group of top venture capitalists (VCs) have committed to unlocking $5 billion in new philanthropy over the next five years by partnering with Pledge 1% to advise their portfolio companies on how to set aside equity for social impact prior to their liquidity events. Amidst a heightened focus on the role businesses play in fostering societal change, Boardroom Allies will play a pivotal role in ushering in a new era of corporate giving.

“This past year, we’ve seen more companies demonstrate that they have an important role to play in tackling the toughest challenges of our time. Shareholder, employee, and customer expectations are changing. It’s exciting to see business leaders step up to meet this moment by leveraging their assets to address pressing social, environmental, and racial justice issues. Doing so is not only the right thing to do; it’s also a business imperative,” said Laela Sturdy, General Partner at CapitalG and Board Member of UiPath.

“We’re seeing a new trend of companies setting aside equity prior to an exit to sustainably fund their social impact and ESG efforts for years to come,” said Neeraj Agrawal, General Partner at Battery Ventures. “By providing equity model standards, a definitive CEO playbook, and experienced consultation, Pledge 1% has been fueling this trend.” 

With the support of Pledge 1%, many of the most successful exits of the last year, including Coinbase, Digital Ocean, Olo, UiPath, and Unity Technologies have committed equity for good on the road to their IPOs, joining industry leaders driving the Pledge 1% movement such as Atlassian, DocuSign, Twilio, Okta, Salesforce, Slack, PagerDuty, Upwork, and Zuora. Many top pre-IPO companies such as Canva, Guild Education, Crunchbase, and Puppet have also made the commitment. Collectively, their equity pledges have already ignited billions of dollars in social impact funds. 

Recognizing that standards and best practices optimized by company stage were required to streamline the equity pledge process, Pledge 1% developed a step-by-step guide for companies to formalize equity pledges: the CEO Playbook and a Companion Guide for CFOs and GCs. A key strategy outlined in the CEO Equity Playbook is finding and leveraging a boardroom ally to serve as a thought partner to the CEO as he/she navigates equity model selection, timing, and building a coalition of board support.  

As the Pledge 1% team accelerated efforts to help venture-backed companies set aside equity prior to their liquidity events, VC board members became not only powerful partners in helping CEOs, but also catalysts of the movement, encouraging other portfolio companies to formalize equity pledges as well.  Thus, Boardroom Allies was born as a vehicle for VCs to advocate for change. 

“Boardroom Allies is a first-of-its-kind alliance of forward-thinking investors from top VC firms who’ve committed to helping companies set aside equity for social impact — not only because it’s the right thing to do, but because it’s also a smart business decision,” said Amy Lesnick, President and CEO of Pledge 1%. “The launch of this program represents a major milestone in our goal of empowering all companies to leverage their assets for good, and gets us one step closer toward a world where setting aside equity for social impact is the norm.” 

“Working with Pledge 1% to make an equity commitment makes sense on many levels,” said Seth Levine, Partner at Foundry Group. “Setting aside pre-IPO stock for social impact should be a standard business practice to strengthen employee engagement and build purpose into a company’s DNA. As a founding Boardroom Ally, I encourage other VCs to join this coalition and CEOs to reach out to Pledge 1% and their board members for the support to make this a reality.” 

“CEOs of late stage companies are sometimes cautious to propose an equity pledge to their Boards. However, from our perspective, this is increasingly a natural step in IPO readiness,” said Byron Deeter, Partner at Bessemer Venture Partners. “We imagine a future in which an equity pledge could be part of every significant technology S1 filing as customers, employees, and investors put increasing value on how companies show up as corporate citizens.”

As part of its launch, Boardroom Allies is announcing the following founding members:

*Directly advised/supported and/or currently supporting portfolio company to set aside equity

Name	Firm	Equity commitments within firm portfolio
Andrew Braccia*	Accel	Atlassian, Code42, DocuSign, Lookout, PagerDuty, Slack, UiPath
Richard Wong*	Accel	Atlassian, Code42, DocuSign, Lookout, PagerDuty, Slack, UiPath
John O’Farrell*	Andreessen Horowitz	Coinbase, DigitalOcean, Lookout, Okta, PagerDuty, Slack
Ajay Agarwal*	Bain Capital Ventures	AvidXchange, DocuSign, Gainsight, SendGrid
Enrique Salem*	Bain Capital Ventures	AvidXchange, DocuSign, Gainsight, SendGrid
Matt Harris*	Bain Capital Ventures	AvidXchange, DocuSign, Gainsight, SendGrid
Chelsea Stoner	Battery Ventures	Coinbase, Gainsight, Olo
Neeraj Agrawal*	Battery Ventures	Coinbase, Gainsight, Olo
Roger Lee*	Battery Ventures	Coinbase, Gainsight, Olo
Chetan Puttagunta	Benchmark	Upwork, Yelp, Zuora
Eric Vishria	Benchmark	Upwork, Yelp, Zuora
Miles Grimshaw	Benchmark	Upwork, Yelp, Zuora
Peter Fenton*	Benchmark	Upwork, Yelp, Zuora
Sarah Tavel	Benchmark	Upwork, Yelp, Zuora
Byron Deeter*	Bessemer Venture Partners	Auth0, Canva, Gainsight, Guild Education, PagerDuty, SendGrid, Twilio, Vlocity, Yelp
Ethan Kurzweil*	Bessemer Venture Partners	Auth0, Canva, Gainsight, Guild Education, PagerDuty, SendGrid, Twilio, Vlocity, Yelp
Kent Bennett*	Bessemer Venture Partners	Auth0, Canva, Gainsight, Guild Education, PagerDuty, SendGrid, Twilio, Vlocity, Yelp
Niki Scevak*	Blackbird Ventures	Canva
Laela Sturdy*	CapitalG	UiPath
Aileen Lee	Cowboy Ventures	Crunchbase, Guild Education
Seth Miller	Fearless Ventures	Not publicly disclosed
Mike Jung	Founders Circle Capital	Auth0, DocuSign, Gainsight, Twilio
Brad Feld*	Foundry Group	AvidXchange; Crucible Acquisition Corp. I, II, and III; Rally Software; SendGrid
Ryan Mcintyre*	Foundry Group	AvidXchange; Crucible Acquisition Corp. I, II, and III; Rally Software; SendGrid
Seth Levine*	Foundry Group	AvidXchange; Crucible Acquisition Corp. I, II, and III; Rally Software; SendGrid
Philipp Stauffer*	FYRFLY Venture Partners	SendGrid, Twilio, Altoida, Mobi, Beekeeper
Julie Maples*	FYRFLY Venture Partners	SendGrid, Twilio, Altoida, Mobi, Beekeeper
Kim Moore	Glynn Capital	DocuSign, Okta, Slack, Zuora
Jackie Glynn	Glynn Capital	DocuSign, Okta, Slack, Zuora
David Glynn	Glynn Capital	DocuSign, Okta, Slack, Zuora
Doug Pepper*	ICONIQ Capital	DocuSign, Guild Education, Pluralsight, Skilljar
Alda Leu Dennis	Initialized Capital	Coinbase
Andrew Lee	Initialized Capital	Coinbase
Brett Gibson	Initialized Capital	Coinbase
Garry Tan*	Initialized Capital	Coinbase
Jen Wolf	Initialized Capital	Coinbase
Kim Mai-Cutler	Initialized Capital	Coinbase
Somesh Dash	Institutional Venture Partners	Coinbase, Slack, UiPath
Jules Maltz	Institutional Venture Partners	Coinbase, Slack, UiPath
Pete Solvik*	Jackson Square Ventures	DocuSign, Upwork
Rajeev Batra*	Mayfield Fund	Crunchbase, Skilljar, SmartRecruiters
Rishi Garg	Mayfield Fund	Crunchbase, Skilljar, SmartRecruiters
Tim Chang	Mayfield Fund	Crunchbase, Skilljar, SmartRecruiters
Peter Sonsini	New Enterprise Associates	Code42, Salesforce, Upwork
Rick Yang	New Enterprise Associates	Code42, Salesforce, Upwork
Dave Zilberman	Norwest Venture Partners	Not publicly disclosed
Tim Connors*	PivotNorth Capital	Cloud Apartments, Stremium
Jeff Brody	Redpoint	Guild Education, Twilio, Zuora
Scott Raney*	Redpoint	Guild Education, Twilio, Zuora
Alex Kayyal	Salesforce Ventures	Auth0, Crunchbase, DocuSign, Gainsight, Guild Education, Twilio, Vlocity, SmartRecruiters
John Somorjai*	Salesforce Ventures	Auth0, Crunchbase, DocuSign, Gainsight, Guild Education, Twilio, Vlocity, SmartRecruiters
Matthew Garratt*	Salesforce Ventures	Auth0, Crunchbase, DocuSign, Gainsight, Guild Education, Twilio, Vlocity, SmartRecruiters
Ron Conway*	SV Angel	Coinbase, Crunchbase, Lookout, Okta, PagerDuty, Slack, Twilio, Upwork, Weebly
David Yuan*	Tidemark	Not publicly disclosed
David Cohen*	Techstars	DigitalOcean, SendGrid, Twilio
Jason Seats	Techstars	DigitalOcean, SendGrid, Twilio
Nicole Glaros	Techstars	DigitalOcean, SendGrid, Twilio
David Pakman	Venrock	Not publicly disclosed

To download Pledge 1%’s CEO Equity Playbook and Companion Guide for CFOs and GCs, visit P1.equity/today. To learn more about how to set aside social impact at your company or join this alliance of top VCs as a Boardroom Ally, email allies@pledge1percent.org or visit pledge1percent.org.

About Pledge 1%: Pledge 1% is a global movement that inspires, educates, and empowers every entrepreneur, company, and employee to be a force for good. Over 12,000 members in 100 countries around the world have used Pledge 1%’s flexible framework to ignite billions of dollars and hundreds of thousands of volunteer hours in new philanthropy. To learn more about Pledge 1%, and how your company can get involved, visit pledge1percent.org.

Since the start of the pandemic, our Pledge 1% community has demonstrated a commitment to working together and supporting those who are most in need.

Right now, the gap between countries that can and can’t afford the COVID-19 vaccine is growing. To end the pandemic everywhere, we must continue to play our parts as businesses, and as individuals.

That’s why we’re pleased to share that we teamed up with a coalition of companies to launch the Go Give One Coalition Challenge, a campaign that gives everyone, everywhere the opportunity to help end the pandemic. Our goal is to raise $5 million, which will pay for one million doses of the COVID-19 vaccine. The money will go directly to Gavi COVAX AMC, which funds COVID-19 vaccines for lower-income countries, helping protect those who need vaccines the most.

This isn’t the time to go it alone. Every business, everywhere can help. Join us in helping to raise funds for Gavi COVAX AMC and invite your employees and external partners to take part in the challenge by donating, starting their own peer-to-peer fundraising challenge, or sharing the challenge with their own friends and family.

To engage your employees and external partners, please utilize the Go Give One Donation Challenge Communications Toolkit. In this toolkit, you will find everything you need to promote the challenge to your employees and external partners including details on the campaign rollout, sample email messaging, social media assets, and more.

The only way forward is together. Go give one today and help us reach $5 million so everyone, everywhere gets vaccinated > www.gogiveone.org/coalition

Business as a force for good is a top-of-mind topic. The last eighteen months have proven the power and the important role businesses have when it comes to tackling problems in our interconnected world. What it means to be a successful company has changed as leaders integrate ESG programs and other initiatives into their business DNA. This includes formalizing their equity pledge in advance of a liquidity event.

The shift is real and imminent. We’re seeing some of today’s hottest and most successful companies set aside equity before they reach IPO or acquisition, whereas more and more top VC firms are supporting this commitment to social good.

At this year’s SaaStr Enterprise, Pledge 1%’s CEO Amy Lesnick spoke with Rich Wong, General Partner of Accel, and CEOs Yvonne Wassenaar of Puppet and Dan Springer of DocuSign about their Pledge 1% strategies and how setting aside equity is not just the right, but the smart thing to do. Here are our 3 takeaways from the event:

1. There is a moral imperative to help if you are in a position to support the communities you operate in. Companies – especially large ones or those in industries with larger stock and social value – have not only the ability but an obligation to make a positive impact on the world they are shaping.


2. Giving back creates a company culture that attracts top talent who are proud to work with your mission and values. Economic incentives help attract top talent, but it’s the central drive and mission of a company that really brings people on board. Formalizing an equity pledge and joining Pledge 1% is a great way to attract people who are passionate about their work and excited to work at a place whose values they believe in.


3. VCs and investors should support companies who pledge equity and integrate the Pledge 1% model into their business plans. This is a growing trend, and as more and more companies join Pledge 1%, an increasing number of investors are realizing the value of supporting founders who have this vision.

We also invite VCs and investors to email our team to learn more about our tools and program for investors!

Philanthropic funding from 43 companies will go toward organizations responding to the COVID-19 crisis in India, with a focus on medical supplies, vaccine awareness and distribution, and food security.

The current COVID-19 crisis in India underscores how deeply interconnected we all are. Responding to this devastating wave of the pandemic requires companies and sectors to stand together in an urgent, coordinated effort. At Pledge 1%, we are proud to join forces with other companies here in the Bay Area and globally to drive an initial $28M+ in collective funding for organizations meeting pressing needs across India.

This joint commitment is a continuation and extension of an ongoing collaborative, which launched at the start of the pandemic, initially mobilizing $22 million to support global relief efforts.

To increase our collective impact, unify response efforts, and inspire others to get involved, 43 companies are again joining forces to support a set of common needs across India. Initial funding will provide medical equipment and supplies, such as oxygen, medication, pulse oximeters, and PPE; increase vaccine confidence and support community vaccination sites; and provide food and other essential goods to those facing hunger, illness and economic insecurity.

Companies collectively supported organizations closest to these needs. The American India Foundation received donations from Adobe, Atlassian Foundation, Dropbox, Palo Alto Networks and Pure Storage to source ventilators for hospitals and deliver hygiene kits and supplies to frontline health workers and migrant communities.

Auth0, Cisco, Dropbox, Lookout, Marqeta, Medallia, Okta, Inc. and SurveyMonkey all donated a portion of their funds to CARE India or CARE USA to provide essential hospital services, beds, and life support systems across 14 states in partnership with central and state governments in India.

“Philanthropic support from global corporates is critical at this moment when India is facing an unprecedented crisis from the second wave of Covid19” said Manoj Gopalakrishna, CEO, CARE India. “We are grateful that companies around the world are coming together to support communities across India.“

Through the United Way of Hyderabad, a partner of Salesforce, the coalition is addressing food and economic insecurity, in addition to supporting the establishment of community isolation centers, providing medical supplies, and advancing vaccine awareness and uptake.

“The crisis we’re facing has led to a set of interconnected and urgent needs, for food and economic relief in addition to healthcare,” said Rekha Srinivasan, CEO, United Way of Hyderabad. “It’s paramount that we address these needs collectively.”

As companies aligned on a global movement for social impact, we understand the importance of taking a trust-based, community-driven approach and aggregating our giving power to rapidly deploy resources where they’re needed most. Some companies, including Atlassian Foundation, Autodesk, DocuSign, NetApp, Palo Alto Networks, ServiceNow, and Twilio, have doubled their employee match contributions for India relief efforts. In addition, coalition members are supporting nonprofit partners beyond philanthropic funding by donating products, in-kind supplies, and employee time.

Two Pledge 1% companies, Flexport and Salesforce, have joined forces to source and deliver oxygen concentrators to trusted nonprofit partners meeting critical COVID-related needs. Flexport’s nonprofit arm, Flexport.org also enables organizations to deliver global aid and impact through its Frontline Responders Fund, which delivered over 54 million units of masks, food aid, medical and relief supplies to 5 continents around the world in 2020 and is now focused on India relief.

Organizations like Uber and EdelGive Foundation, are leveraging their unique strengths for impact. In addition to corporate donations, Uber is helping drivers on its platform access vaccines and transporting individuals from marginalized communities to vaccination centers. EdelGive Foundation—a Mumbai-based Pledge 1% member building and expanding philanthropy across India—is committed to raising $10M through its networks to sustain 100 small- to medium-sized NGOs across India over the next 24 months.

“We are proud to drive this effort in partnership with leading corporate citizens. Over the last year, we’ve reaffirmed that our impact is strongest when we come together as a collective, committed to meeting urgent needs and addressing the deep-rooted inequities exposed by this global pandemic,” said Amy Lesnick, CEO of Pledge 1%.

We are inspired by the many companies who have joined this initiative, including: Adobe, Appfire, Atlassian Foundation, Auth0, Autodesk, Box, Cisco, Coupa Software, Crunchbase, DocuSign, Dropbox, EdelGive Foundation, Flexport, GitHub, HP Foundation, LogMeIn, Lookout, Marqeta, Medallia, NetApp, Okta, Inc., PagerDuty, Palo Alto Networks, Pledge, Pledge 1%, Puppet, Inc., Pure Storage, Rand Properties, Remitly, Salesforce, SAP, ServiceNow, Silicon Valley Bank, TIBCO Software Inc., Twilio, Uber, Upwork, Unity, VMware, Vodafone Americas Foundation, Walmart, Western Digital, Workday, and Zoom Video Communications.

We urge other companies to join us in supporting our colleagues and communities in India during this evolving crisis. As we’re seeing in India, Latin America and other regions experiencing surges, it’s clear that COVID-19 knows no borders. Neither should the vaccine. We call on everyone, everywhere to play their part in helping to vaccinate the world and stop the spread. Visit Go Give One to join us in supporting global vaccine equity in partnership with COVAX.

Originally published on The Coinbase Blog.

 

Prior to our recent direct listing, in April 2020, we partnered with Pledge 1% to build a corporate giving program that would commit 1% of Coinbase profits, equity, and employee time toward charitable activities that leverage the power of crypto to help people around the world.

 

We partnered with Pledge 1% because realize that our vision of creating economic freedom for every person and business in the world is ambitious. We also know that for it to become a reality, we’ll need to not only build the products and services that our customers want, but to also think creatively about how we can ensure that crypto gets into the hands of those who need it most.

 

We are calling our Pledge 1% program Coinbase Giving. It will be a charitable program within Coinbase, focused on a common goal of increasing economic freedom for every person and business in the world. One of the limitations of traditional corporate philanthropy is that most companies don’t have the resources or the expertise to manage their philanthropic programs, instead they rely on funding charitable organizations to achieve their public-spirited goals. Coinbase Giving is taking a different approach: a hybrid model following the path forged by other tech leaders. Coinbase Giving will not only support charities that share our mission and values, but we’ll also manage our own programs from start to finish.

 

The charities that we will support and programs that we will drive will fall into three broad categories:

 

• Increasing education around, and access to, crypto


• Accelerating the development of crypto protocols that underpin the cryptoeconomy


• Fostering the next generation of crypto talent, no matter where they are located

Our three initial areas of focus

 

1. Bringing GiveCrypto into the Coinbase family as a Coinbase 501(c)(3) foundation. GiveCrypto was founded in 2018 with a mission to financially empower people by distributing cryptocurrency globally. We’ve long had a relationship with GiveCrypto, but by transitioning its efforts into a private foundation of Coinbase we can substantially increase funding, and offer Coinbase customers the opportunity to give directly to the programs that they want to support.

The new foundation will focus its efforts on supporting and directly managing programs that seek to equalize access to financial services around the globe; use direct crypto contributions to alleviate financial hardship and unsafe situations; and encourage crypto entrepreneurship to create economic freedom.

 

That reach can be truly life-changing.

 

 

2. Expanding the Crypto Community Fund. We believe helping to connect and grow the cryptoeconomy is essential to creating economic equality. Our Crypto Community Fund aims to grow and improve the entire crypto industry, while making it simpler to use and more secure for everyone.

 

We piloted the Crypto Community Fund in October 2020 to help accelerate research and open-source projects. We have funded $200K to date — $100K to Stanford Cryptography and $100K to a Bitcoin Core development developer. In 2021 we expect to fund $2M to expand this program, and we know much more is possible.

 

3. Launching Coinbase’s partnership with Base 11 to develop the next generation of (diverse) crypto talent. We’re also announcing today our commitment to be a 3-year “Game Changer” partner of Base 11, a nonprofit STEM workforce and entrepreneur development organization that empowers women and underrepresented minorities with the access, awareness and belief needed to succeed in Next Frontier Industries of the 21st century.

 

As part of this partnership, we will be developing a Crypto Innovation Challenge program that will be unveiled later this year, to help cement crypto as a frontier industry and unlock its future talent. We’re proud to partner with Base 11 as they empower the next generation of crypto entrepreneurs and users.

 

 

Employee match program

 

In addition to the initiatives outlined above, beginning in June, we will begin matching on a one-for-one basis any employee donation to a qualified 501(c)(3) (or international equivalent) up to $500. As we pilot this program this year, we’re excited to support our team and the causes and organizations they are passionate about.

 

We believe strongly in the power of crypto to address any number of the inequities of the current financial system. But we also recognize that there is a lot to be done when it comes to creating economic freedom for every person and business in the world. As Coinbase and the cryptoeconomy grow, we’re committed to doing our part to ensure that we never stray far from crypto’s original promise of an open financial system.

 

We’re just at the beginning — but we’re here for the long term.

 

About Pledge 1%

 

Pledge 1% is a global movement that inspires, educates, and empowers every entrepreneur, company, and employee to be a force for good. Over 12,000 members in 100 countries around the world have used Pledge 1%’s flexible framework to ignite billions of dollars and hundreds of thousands of volunteer hours in new philanthropy. To learn more about Pledge 1%, and how your company can get involved, visit pledge1percent.org.

Originally published on socialchamp.io. Written by Marium Fahim Khan.

Social Champ Joins the Pledge 1% Movement and Pledges to Donate 1% of Time and Product to the Community

Today we joined Pledge 1%, a global movement to create a new normal for companies of all sizes and stages to positively impact their business. Social Champ is joining over 12,000 companies worldwide who have committed to Pledge 1% of either their product, profit, equity, and staff time to a charity of their choosing. Social Champ is proud to announce its commitment to donate 1% of Time and Product to a wide range of charity partners.

Co-founder and CEO Sameer Ahmed Khan explains what this partnership means to him and how Social Champ is making a change in the community.

“We offer 50% off for life on all of their plans to all the registered non-profits so they can scale their marketing efforts on social media. In times of pandemic, small and medium-size businesses who couldn’t afford the product were offered a free subscription for a limited time so they can survive.”

Sameer Ahmed Khan also dedicates time to giving back to society in terms of free one-on-one coaching, social media training, and their startup journey to inspire new entrepreneurs. The talks have been delivered by Nokia, Microsoft, Facebook, WordPress Community, Tedx, IEEE, and many others.

“A lot of mentors helped us to where we are today. We find it a responsibility and an honor to give back to the ecosystem by helping startups and university students”, says Sameer Ahmed Khan. Sameer, with his team at Social Champ, regularly conducts digital marketing workshops for new startups. Sameer continues, “The mentors from The Nest IO incubator in Karachi, Pakistan, and professors from University of Karachi, have equally helped us to shape a better founder, citizen and a human being.”

Social Champ is proud to join the Pledge 1% community and encourages other companies to take the pledge and leverage their business as a force for good.

About Pledge 1%
Pledge 1% is a global movement that inspires, educates, and empowers every entrepreneur, company, and employee to be a force for good. Over 12,000 members in 100+ countries have used Pledge 1%’s flexible framework to ignite half a billion dollars in new philanthropy. To learn more about Pledge 1% and to take the pledge, visit www.pledge1percent.org.

Originally posted: April 23rd, 2021

Originally appeared on Businesswire.

Coinbase Announces Update Regarding Conversion of Shares of Class B Common Stock to Shares of Class A Common Stock

Remote-First-Company/PORTLAND–(BUSINESS WIRE)–Coinbase Global, Inc. (“Coinbase”), today announced that, as of April 12, 2021, there are 130.7 million shares of Class A common stock (“Class A common stock”) outstanding and 68.5 million shares of Class B common stock (“Class B common stock” and together with the Class A common stock, “Common Stock”) outstanding.

Coinbase also announced that, as of April 12, 2021, Coinbase had a fully diluted capitalization of 261.3 million shares of Common Stock. This fully diluted capitalization share count includes the shares of Common Stock outstanding and all outstanding stock options and restricted stock units but does not include shares of Common Stock reserved for future issuance under Coinbase’s equity compensation plans or its Pledge 1% commitment.

Only shares of Class A common stock will be listed for trading on the Nasdaq Global Select Market. Trading of shares of Class A common stock is expected to commence on April 14, 2021. Each outstanding share of Class B common stock is convertible, at any time, at the option of the holder, into one share of Class A common stock.

Coinbase has filed a Registration Statement on Form S-1 with the Securities and Exchange Commission (“SEC”) that registers for resale shares of Class A common stock and that was declared effective on April 1, 2021. A copy of the prospectus related to the registration statement may be obtained by visiting EDGAR on the SEC website or via the investor relations page on Coinbase’s website at investor.coinbase.com under the “SEC Filings” section.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. These statements include, but are not limited to, statements regarding the date on which Coinbase’s Class A common stock will be available for trading on the Nasdaq Global Select Market. The words “believe,” “may,” “will,” “potential,” “anticipate,” “intend,” “expect,” “could,” and “would,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on management’s expectations, assumptions, and projections based on information available at the time the statements were made. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including risks and uncertainties related to: whether or not Coinbase will consummate the proposed public direct listing, prevailing market conditions, investor demand for shares of Coinbase’s Class A common stock, and the impact of general economic, industry or regulatory conditions in the United States or internationally. Further information on risks that could affect Coinbase’s business and the proposed public direct listing are included in Coinbase’s filings with the SEC including the Form S-1/A filed on March 23, 2021. Except as required by law, Coinbase assumes no obligation to update these forward-looking statements.

About Coinbase

Coinbase is building the cryptoeconomy – a more fair, accessible, efficient, and transparent financial system enabled by crypto. The company started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Today, we offer a trusted and easy-to-use platform for accessing the broader cryptoeconomy.