WuBlockchain
Blockworks has acquired crypto data and research platform Messari for more than $10 million, well below the roughly $300 million valuation Messari commanded in its 2022 Series B, according to a person familiar with the matter cited by the Wall Street Journal. Messari CEO Diran Li will join Blockworks' leadership team as part of the deal.
Why it matters
The gap between the $10M-plus price and the 2022 peak is the headline. Crypto-native research and media businesses were valued like growth-stage software plays during the 2021-2022 cycle; this transaction is a quiet acknowledgment that the multiple has collapsed. The deal also lands after a stretch of management turnover and restructuring at Messari, suggesting the company chose a strategic home over a longer independent path.
Market impact
For competitors in the crypto research and data space, a sub-$15M exit on a brand that once anchored institutional due-diligence work is a soft data point on multiples across the niche. For Blockworks, the deal folds a recognised research brand and its distribution into a media-and-data platform already oriented toward institutional readers, while giving Blockworks another lever as it pushes deeper into research, indices, and events.
Frequently asked questions
-
How much did Blockworks pay to acquire Messari?
More than $10 million, according to a person familiar with the matter cited by the Wall Street Journal. The deal price is well below Messari's 2022 Series B valuation.
-
What was Messari valued at in 2022?
Messari was valued at approximately $300 million during its Series B funding round in 2022, according to the WSJ report.
-
What happens to Messari CEO Diran Li after the deal?
Diran Li will join Blockworks' leadership team as part of the acquisition.
-
Why is the Blockworks-Messari deal considered a valuation reset?
The reported price of just over $10M is a fraction of the roughly $300M Messari was marked at in 2022, reflecting the sharp compression in multiples across the crypto research and media sector since the last cycle peak.
-
What does Blockworks gain from acquiring Messari?
Blockworks picks up a recognisable crypto research brand and its institutional distribution, strengthening its media-and-data platform as it pushes deeper into research, indices, and events.
CoinTelegraph
CryptoSlate
TheBlock
Crypto News
CoinDesk
WatcherGuru