Coinbase has acquired customer service startup Agara, according to a blog post on Tuesday.
- The deal is worth somewhere between $40 million and $50 million, TechCrunch reported, citing two people familiar with the matter. The deal is expected to close later this year, Coinbase said in its post.
- Agara’s main product is an artificial intelligence-powered voicebot used in customer support.
- Coinbase said it will leverage Agara’s tech to “automate and enhance” its customer experience tools. The deal also adds deep learning and AI expertise to Coinbase’s existing tech capacity, and furthers its buildout of a tech hub in India, according to the post.
- Agara’s team, which is mainly based in India, will join Coinbase, the startup’s co-founder and CEO Abhimanyu told TechCrunch.
- In July, Coinbase said that it wants to build a tech hub in India.
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.