Coinbase acquires Spindl, terms not disclosed

Coinbase (COIN) announced it is acquiring Spindl, an onchain ads and attribution platform. “As we’ve said before, there’s a natural flywheel here: We support developers who build onchain apps, those apps attract users onchain, and having more users incentivizes more developers to build onchain,” Coinbase said. “And the faster we spin this flywheel, the easier it will be to bring more and more people onchain. Builder virality is the thing that spins that flywheel faster. To that end, we’re excited to share that Coinbase has acquired Spindl, an onchain ads and attribution platform (re)building the ad tech stack onchain, to improve the onchain discovery problem for onchain builders. Spindl was founded by Antonio Garcia-Martinez (“AGM”), an early member of the Facebook (META) ads team who shipped Facebook’s first version of keyword targeting, audience targeting, and Facebook’s programmatic ad exchange FBX. His subsequent career in tech led him to crypto, founding Spindl in 2022 where he’s been focused on solving the onchain distribution problem that so many builders face today. As part of this acquisition, Spindl itself will operate under Base, and will continue to support current customers without interruption. As we integrate this team & technology into Base, as with all things on Base, we’re committed to maintaining open standards for publishers and advertisers alike. These principles will help us scale the ecosystem while keeping it open, fair and inclusive for everyone. Base is for everyone, and Spindl will help connect both Base and builders more broadly with distribution across the ecosystem.”