Blockworks Acquires Messari in Deal Highlighting Crypto’s Data Consolidation Race

Acquisition Cost

$10 million

The amount Blockworks paid to acquire Messari.

Previous Valuation

$300 million

Messari's valuation during its last funding round in 2022.

Series A Valuation

$192 million

The valuation of Blockworks following its recently closed Series A extension.

§ 01 Executive Snapshot

What: Blockworks acquires Messari for over $10 million, highlighting consolidation in the crypto data market.
Who: Blockworks, Messari, co-founders Jason Yanowitz and Michael Ippolito, Messari CEO Diran Li.
Why it matters: This acquisition emphasizes the ongoing consolidation in the digital asset industry, reflecting significant valuation resets and the need for a more unified data infrastructure.

Blockworks paid more than $10 million for Messari, marking a significant markdown from Messari's previous valuation of approximately $300 million.
Messari was founded in 2018 and offers a data platform covering over 40,000 digital assets, APIs, and AI-powered workflows.
The acquisition was partly funded through Blockworks' Series A extension, which valued the company at $192 million.

The deal underscores the increasing pressure on crypto startups to consolidate amidst a challenging market environment and valuation declines.
Blockworks aims to create a more comprehensive data and information market in crypto, similar to the consolidation seen in traditional finance with platforms like Bloomberg and FactSet.

The immediate consequence is a strengthened position for Blockworks in the fragmented crypto data market, potentially leading to enhanced service offerings for clients.
Long-term, the acquisition could set a precedent for further consolidation in the crypto sector as companies seek to combine resources and data capabilities amidst ongoing market challenges.

Potential risks include regulatory pressures and the ongoing volatility in trading volumes and token prices, which may lead to further distressed sales in the sector.
The integration of Messari's operations and personnel under Blockworks could face execution challenges, particularly given recent leadership changes at Messari.

Future developments to watch include the rollout of enhanced data coverage and AI-native research tools by the combined entity.
Monitoring crypto M&A activity and transaction values will provide insights into ongoing consolidation trends in the crypto data market.

§ 07

What did Blockworks acquire?

Blockworks acquired Messari for over $10 million.

Why is the acquisition of Messari significant?

It highlights the ongoing consolidation in the digital asset industry and the need for a more unified data infrastructure.

How much was Messari's previous valuation before the acquisition?

Messari's previous valuation was approximately $300 million.

Who are the key people involved in the acquisition?

Key individuals include Blockworks co-founders Jason Yanowitz and Michael Ippolito, and Messari CEO Diran Li.