Coinbase Acquires Spindl to Boost Onchain Ad Tech

Coinbase, a leading cryptocurrency exchange, has announced its acquisition of Spindl, a startup specializing in rebuilding ad tech infrastructure for the onchain economy. The deal, set to close on January 31, 2025, will see Spindl integrated into Base, Coinbase's layer 2 blockchain, with the goal of improving discovery and distribution for onchain developers.

Founded in 2022 by Antonio Garcia-Martinez, a former Facebook ads team member, Spindl aims to address challenges related to user acquisition and engagement for decentralized applications. Garcia-Martinez played a key role in developing Facebook's early ad targeting and exchange systems, bringing valuable expertise to the onchain advertising space.

In a statement, Coinbase emphasized the natural flywheel effect of supporting developers who build onchain apps, attracting users, and incentivizing more developers to build onchain. The acquisition of Spindl is expected to accelerate this process, making it easier to bring more people onto the blockchain.

Following the acquisition, Spindl will continue supporting its existing customers while aligning its operations with Base's infrastructure. Coinbase has committed to maintaining open standards for advertisers and publishers, fostering a fair and scalable ecosystem.

Through this move, Coinbase aims to strengthen its role in the onchain economy by enhancing visibility and user acquisition for decentralized applications. By integrating Spindl's expertise in ad tech infrastructure with Base's layer 2 blockchain, Coinbase seeks to create a more robust and user-friendly environment for onchain developers and users alike.