The cryptocurrency portfolio manager and exchange, Coinbase has announced that Marc Andreessen, co-founder and operating partner at Andreessen Horowitz, one of the world’s leading venture capital firms has joined the Coinbase Board. Marc is followed by Gokul Rajaram, an executive at DoorDash who along with Andreessen will be Coinbase’s new Board members.
We’re excited to announce the addition of two new leaders to Coinbase’s boardroom. Please join us in welcoming @pmarca of @a16z and @gokulr. Both bring a wealth of experience that will benefit the company, our customers and the broader #crypto community. https://t.co/3JBLMbdqSp
— Coinbase (@coinbase) August 31, 2020
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According to the release, Andreessen and Rajaram will replace Chris Dixon and Barry Schumer. Whilst Dixon was one of the earliest investors in Coinbase, Schuler, the ex CEO of America Online, will remain as Board Observer at Coinbase.
Marc Andreessen is known for his tech-focused investments but he is more famous for co-founding a popular Internet browser Netscape and as the co-creator of Mosaic, another browser. He was also the co-founder of Loudcloud, otherwise known as Opsware, a software company, which was sold to Hewlett-Packard for $1.6 billion.
Andreessen later served on the Board of Hewlett-Packard from 2008 to 2018. The investor was also lauded for his op-ed in The New York Times that introduced many to Bitcoin for the first time.
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Moreover, Coinbase deemed Marc Andreessen as someone who “storied history in Silicon Valley.” The release also highlighted that Andreessen was an early believer in the potential of cryptocurrencies, and is now the Board observer.
On the other hand, Gokul Rajaram worked with leading tech firms like Square and Facebook and Google AdSense.