Betting Big on M&A and VC: Binance Eyes Expansion and Enriched Customer Base
Binance has been working to increase its customer base and influence across several sectors.
A recent report has revealed that the firm is investing heavily in Mergers and acquisitions (M&A) as part of its expansion plans.
Binance chief business officer Yibo Ling, who joined the firm in November 2022, plays a vital role in actualizing these goals.
Ling outlined the exchange’s growth plans, focusing on VC-backed strategic mergers and acquisitions.
During an Interview at Consensus 2023 held in Austin, Texas, Yibo Ling explained his job as the business development officer.
According to Ling, his attendance at the Consensus conference is part of Binance’s strategy to seek new projects to invest in.
He noted that Binance’s VC arm, Binance Labs, aims to expand by gripping hands on as many projects as possible.
Binance Labs operates with the notion that a rising tide lifts all boats, so the more the investment, the more the impact.
Binance Labs aims to invest in growth and early-stage companies through seed and Series A funds.
The exchange wants to improve lives through Web3 and blockchain technology while growing its customer base, Ling revealed.
However, it's not a charity endeavor, as the crypto exchange places return metrics and ROI from these partnerships in high regard.
According to Ling, Binance’s portfolio is valued at about $9 million and constitutes mainly early and growth-stage venture capital investments.
The executive emphasized that Binance does not exit its investments since its mission supports long-term holdings.
The firm has over 200 portfolio companies in every continent aside from Antarctica and still counting.
According to Ling, Binance’s VC arm also embarks on direct investments besides the incubation
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