Blockworks has acquired crypto data and research firm Messari for over $10 million, a price that falls well below Messari's valuation during its 2022 fundraising round, according to a report
Blockworks has acquired crypto data and research firm Messari for over $10 million, a price that falls well below Messari's valuation during its 2022 fundraising round, according to a report from The Wall Street Journal.
The acquisition was first reported by The Wall Street Journal, which described the deal as Blockworks purchasing Messari "at a discount." The reported price of over $10 million represents a significant markdown from Messari's prior valuation.
KEY POINTS
Blockworks, a crypto media and events company, closed its Series A at a $192 million valuation earlier this year. The funding round appears to have provided the capital base for the Messari acquisition.
Messari, founded as a crypto research and data analytics platform, had raised $35 million in Series B funding at its Mainnet 2022 summit. That round valued the company significantly higher than the reported acquisition price.
The gap between Messari's 2022 fundraising valuation and its reported acquisition price reflects the broader repricing that has hit crypto infrastructure companies since the market downturn. A company that raised $35 million in a single round selling for just over $10 million signals how dramatically private-market conditions have shifted.
Messari's 2022 Series B came during a period of aggressive venture investment in crypto data and analytics. The fact that Blockworks, itself valued at $192 million, was able to acquire Messari at such a steep discount underscores how companies with strong revenue models have gained leverage over those that have not. For firms tracking digital asset markets, the deal could reshape the competitive landscape for crypto research tools, much as consolidation has reshaped areas like on-chain analytics and stablecoin infrastructure.
The acquisition combines Blockworks' media and events business with Messari's data and research products. Whether the merged entity can compete effectively against established data providers remains an open question, particularly as institutional interest in digital asset infrastructure continues to evolve and events like the European Blockchain Convention highlight growing institutional engagement with the sector.
Blockworks has confirmed the deal through its own announcement. The combined company's ability to integrate Messari's data offerings with Blockworks' audience will likely determine whether the discounted purchase price was a bargain or a reflection of lasting challenges in the crypto data market.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
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