About Coin

How the company came to be, why we do what we do, and the team behind our products.

The Dawn of Coin

Kanishk Parashar has a budding idea for a universal payment solution and begins working on his first prototype, a large box with a bunch of wires sticking out of it. He posts a picture to Facebook: “Who knows what this circuit does?” Out of all of his connections, only one responds -- Karthik Balakrishnan -- a rocket scientist. They meet, they talk, and a company is born.

Why pay with a phone when you can pay with a digital card?

Kanishk and Karthik realize their first few prototypes are too clunky to be viable options; they look into alternatives. Make a mobile app that allows users to pay with a phone? Or maybe a physical product that people carry around with them? They decide to blend software and hardware into what is now Coin: a universal credit card-shaped device that can be used everywhere payment cards are accepted.

The fastest moving company in Silicon Valley.

Coin’s first office is out of the trunk of a car. Every night, Kanishk drives 35 miles from San Francisco to Palo Alto where Karthik works. It is the fastest moving company in Silicon Valley; Coin’s assets travel 80 miles per hour down the freeway every single day.

Phenomenal cosmic power - itty bitty living space.

Kanishk and Karthik begin searching for suppliers who can make components small enough to fit inside of a credit card-like device. Suppliers tell them building this has never been done before and that the components don’t exist. Back to square one, Kanishk and Karthik start building every piece from scratch.

Coin gets an upgrade.

The team grows from just Kanishk and Karthik to seven talented people and the office upgrades from a car to a minivan.

A serendipitous welcoming

Coin’s pre-order campaign goes live at onlycoin.com. There are over 20,000 orders placed in the first six hours and over 1 million Youtube views within the first day. Campaign Backers prove a product-market fit.

Building Coin.

Because nothing like Coin has been done before, the Coin team begins to design, from the ground up, machines that build the custom parts that make up Coin. The Coin team creates an international supply chain spanning four countries and three continents that provide e-screens, buttons, bluetooth radios, batteries, and more -- all necessary components to build Coin.

Coin Beta swipes nationwide.

The now 33-person Coin team begins shipping Coin Beta, a pre-production version of Coin, for a National Beta Program of 15,000 users. Within weeks, users pay with Coin at over 4,000 distinct merchants in over 330 cities.
Allison
Andrew
Carmen
Carolyn
Chris
Cynthia
Dennis
Eamon
Eddie
Julian
Joseph
Karthik
Kim
Kanishk
Kyle
Nauzli
Navneet
Quynh
Rajiv
Russ
Sasha
Shalina
Shams
Sho
Sinhae
Steve
Ted
Tiffany
Veary
Venkat
Vitaly