According to a report by Foresight News and The Wall Street Journal, crypto data service provider Blockworks acquired rival Messari for over $10 million. Messari was valued at approximately $300 million in 2022, representing a significant discount in the deal. The report points out that the transaction reflects the survival pressure faced by previously highly valued startups amid a deepening crypto bear market.
Founded in 2018, Blockworks initially focused on media and events before expanding into news, research, and data. Last October, it closed its news division to shift its focus to data, investor relations, and compliance services. The company recently completed an extension of its funding round, valuing the company at approximately $192 million. Messari, also founded in 2018, is a company focused on crypto research, data, and analytics.
