Coinbase Portland Office To Hire 100 Employees
Coinbase has just confirmed that it plans to open a new office in Portland, hiring 100 employees to fill the new office space. According to a Medium blog post by Tina Bhatnagar, VP of Operations and Tech at the exchange, the company’s team explored a multitude of U.S. cities, looking for the best fit for the company.
The blog post stated:
We were inspired by Portland’s incredibly talented, innovative open-source and blockchain communities. We also appreciate the city’s commitment to providing equal opportunities for all, as it mirrors our values at Coinbase.
The aforementioned post noted that cryptocurrency and blockchain talent is not only located in Silicon Valley, with talented individuals existing all across the world. Coinbase then found it logical to open up another office in the U.S, where a large portion of Coinbase’s customers reside.
Coinbase has signed a 7-year lease with the office landlords, who permitted the upcoming renovations for the office space, making it more inviting for an innovative FinTech company.
The new Portland office is expected to hire up to 100 people, helping to support the Portland economy. This new space will support a variety of roles and purposes, hosting “a variety of business-related functions,” along with facilitating customer support, finance, compliance and IT work.
Expansion Efforts After 2017’s Bullrun
As seen by recent documents obtained from the SEC, Coinbase has been having growing problems, as its user base has grown exponentially over the past 12 months.
At Bitcoin’s peak, Coinbase hit the top of the Apple and Google Play app stores, reaching millions upon millions of downloads from worldwide users. This new office, along with other expansion efforts, like the recent foray into the Japanese market, are slated to help the exchange facilitate the large influx in the interest of Coinbase’s services.
Bhatnagar noted that the exchange has been rapidly expanding its customer support team, due to the over 4000% growth of consumer demand for the platform seen in 2017. The career page on the exchange’s website made it clear that the Portland office will have a focus on customer support, planning to hire multiple employees for “customer support operations.”
Tina Bhatnagar closed off her post, saying:
We’re excited to find people who are excited about the future of cryptocurrency, and who want to help Coinbase achieve its mission of creating a more equitable and open financial system for the world. That’s why we’re eager to expand to cities like Portland, where best-in-class talent from across the community will be critical to our important mission.
Coinbase quickly became the talk of the town last year, as it quickly grew to a valuation of over $7.8 billion U.S, unmatched in the cryptocurrency industry. Mainstream media, attempting to capitalize on the growing cryptocurrency market, quickly began to take note of the company, bringing news regarding the company to the forefront of the public consciousness.
This helped to quickly grow the exchange, with Coinbase reportedly having over 12 million accounts, far above the levels seen with traditional institutions, like Charles Schwab. Although the cryptocurrency market has recently declined, many hope for the success of Coinbase, as the success of the exchange means the success of the market overall.