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A comment on Coinbase S-1. Parent comment

Re:Coinbase S-1 by carlineng on Thursday February 25, 2021 @12:58PM (#26265817)
From "Use of Proceeds" on p78:

"To the extent any registered stockholder chooses to sell shares of our Class A common stock covered by this prospectus, we will not receive any proceeds from any such sales of our Class A common stock."

This is a direct listing, so I think its primarily a liquidity event for investors and employees.

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Re:Coinbase S-1 by richardwhiuk on Thursday February 25, 2021 @01:19PM (#26266140)
That's standard surely? They will be issuing new stock which they will receive sales?
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Re:Coinbase S-1 by carlineng on Thursday February 25, 2021 @01:26PM (#26266235)
In a Direct Listing, the company does not issue new shares. This doesn't mean they can't in the future, but it's just not part of the company's initial listing on the public markets.
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Re:Coinbase S-1 by bostonsre on Thursday February 25, 2021 @09:09PM (#26270734)
It sounds like they don't need money.
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