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Brandy covers crypto-related venture capital deals for CoinDesk.
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Surojit Chatterjee, who served as the chief product officer for cryptocurrency exchange Coinbase (COIN), has joined venture capital firm Andreessen Horowitz (a16z) as an executive in residence for its crypto unit, according to a tweet.
“Super excited to join @a16zcrypto as Executive in Residence (EIR) and learn from some of the smartest brains in the business. Looking forward to helping out founders and builders scale their businesses. Let’s build…,” Chatterjee tweeted.
Chatterjee joined Coinbase in early 2020, according to his LinkedIn page, and didn’t specify a reason for his departure. He previously spent more than a decade at Google, where he worked on payments, advertising technology and commerce, including the development of Google Shopping.
Earlier this year, Coinbase said it planned to reduce its headcount by about 20% due to the impact of the crypto winter.
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Brandy covers crypto-related venture capital deals for CoinDesk.
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Brandy covers crypto-related venture capital deals for CoinDesk.
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On Thursday, November 5th, 2020, Coinbase announced the departure of its product head Rachael Schmidt, who had been a part of the company since October 2018. Schmidt has accepted an offer to join a16z Crypto, a venture capital firm founded by legendary Silicon Valley venture capitalists Marc Andreessen and Ben Horowitz.
Schmidt leaves Coinbase with a legacy of accomplishments and innovation. In her two year tenure, Schmidt led product for Coinbase Consumer and Revenue, launching Coinbase Earn, Coinbase Certification and Coinbase Card. As part of this role, she also handled product strategy and design, developing strategies for launching Coinbase Pro, Coinbase Custody and Coinbase Wallet.
Schmidt’s new role as a Venture Partner at a16z Crypto will be focused on a particularly wide range of initiatives. These include helping source deals, working with founders through launch and growth stages, participating in bottom up research, and recruiting and managing foundational teams. A16z Crypto will be seeking to leverage Schmidt’s experience with Coinbase products to help strengthen their portfolio projects and make them more successful.
In a tweet announcing the move, Andreessen stated that Schmidt “brings an impressive track record of product innovation, scaling high performing product teams & developing strong customer relationships. She also has deep experience in the payments, crypto asset & fintech space”.
Schmidt’s departure from Coinbase follows the announcement of the first wave of Coinbase Consumer departures in August of this year, which saw the departure of VP Dan Romero and Executive Director Sam McIngvale.
Schmidt is a highly accomplished professional, with a record of success spanning both the traditional and crypto finance sectors. Her appointment to a16z Crypto is a testament to her skill and talent. The crypto industry is sure to benefit from her knowledge and expertise as she begins her new role.
