NFT Marketplace OpenSea Raises $300M and Reaches $13B Valuation
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5 January
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Popular NFT marketplace OpenSea has just completed a Series C funding round in which it raised a total of $300 million, resulting in the company's valuation reaching $13 billion.

The company reportedly originally planned to reach a valuation of $15 billion, however, investors have settled on a lower figure.

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Eric Newcomer was the first to report the company had raised $13 billion on Tuesday morning in a funding round led by hedge fund Coatue Management in which cryptocurrency fund Paradigm, which raised $2.5 billion late last year, has also taken part.

Other participants include the new crypto and web3-focused investment fund formed by Kathryn Haun, formerly a partner at a16z. OpenSea co-founder and CEO Devin Finzer has confirmed the company has raised $300 million. According to him, the funds will be used to boost customer support and security, invest in the broader NFTs and web3 community, and hire and develop products.

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