The Coinbase Seed Round Pitch Deck

Last week Coinbase announced its Series D fundraise. We’ve now raised about $216M over the past five years and created a company valued at $1.6B.

Adam Draper, one of our first seed investors, forwarded me this email from five years ago when we first met, with the attached pitch deck. What a great reminder of just how far we’ve come.

From: Brian Armstrong <>
Date: Wed, Aug 22, 2012 at 2:36 PM
Subject: Re: Demo Day
To: Adam Draper <>

Hi Adam,

We don’t have a deck but here are my slides from demo day (please keep confidential). Tim Draper invested in xxxxxxx right? Didn’t realize the connection when we met. We have $320k committed already and will close it at $1M for this round. What can I do to help you make a decision to invest in Coinbase? (happy to meet in person or chat by phone)

Brian Armstrong
Founder, CEO
San Francisco, CA, USA
C: 415–xxx–xxxx

On Tue, Aug 21, 2012 at 5:38 PM, Adam Draper <> wrote:

Great presentation at demo day, it was also great to meet you. I am interested in the market you are going after and want to learn some more. Can you send me a deck if you have one?

Just some background on me, I have invested in about a dozen startups including Path, Airtime and Mino Monsters.


Here is the attached pitch deck (which was really just the slides I used to present at YCombinator’s demo day).

And a grainy photo if me presenting those slides at demo day in summer 2012.

If there is a lesson here, I think it is this:

Great things start from humble beginnings. Most of what you see around you started as nothing more than a simple idea and a crude prototype. It’ll take 5 to 10 years to turn it into an “overnight success”, with dozens of setbacks and course corrections along the way. So pick something you’re passionate about and get started.



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store