Charles Hoskinson, the co-founder of the Cardano blockchain, has expressed interest in buying crypto news service CoinDesk. CoinDesk recently announced that it had engaged Lazard as a financial adviser to explore options including a partial or full sale.
The site is owned by Digital Currency Group (DCG), whose lending subsidiary Genesis Global Capital has filed for bankruptcy.
Hoskinson said on a video posted on Twitter that he heard the site was for sale for about $200 million, but admitted he hadn’t seen CoinDesk’s financials. He believes this price is too high and stated that he could afford it if he really wanted to. It remains to be seen whether Hoskinson will follow through with his interest in purchasing the news service and what changes he would make if successful.
Why Are You Interested in Buying Coindesk?
“It’s something that came by my desk recently is that Coindesk is either raising money or attempting to actually get acquired. So I’ve been through the grapevine, talking to people, looking into things, and trying to figure out what the price is.
And it looks like the price is probably going to be hovering somewhere around $200 million if somebody was just going to buy the thing outright, or at least that’s what they’re asserting they’re worth.
Now, I haven’t seen any books or financials, but I’ve been hearing that gross profit was hovering somewhere around 50 million. So it would be interesting to see what the EBITDA is and what the ratios are, as well as the projections that they have.”
Source: https://beincrypto.com/cardano-to-buy-coindesk-in-dcg-firesale/