According to ChainCatcher, investment management company Coatue Management has reduced its stake in OpenSea by 90%. According to The Information, in the second quarter of this year, Coatue reduced its stake in OpenSea from US$120 million to US$13 million, which means that OpenSea is valued at US$1.4 billion or less.
According to the encrypted data platform RootData, in January 2022, OpenSea announced a $300 million Series C financing led by Coatue and Paradigm, with a valuation of $13.3 billion. ChainCatcher previously reported that last week OpenSea announced that it had laid off 50% of its employees and would rebuild the team around "OpenSea 2.0."
In addition, The Information stated that in addition to OpenSea, Coatue also reduced its stake in Web3 infrastructure company MoonPay by 90%.