Ex-Coinbase global expansion lead joins a16z-backed Matter Labs as president

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Nana Murugesan, who previously led international expansion at Coinbase, has taken on the role of president at Matter Labs. His new mission is to foster the advancement of zkSync technology within the company.

A previous leader at Coinbase Global, Nana Murugesan, who drove the company’s global expansion projects, has now joined Matter Labs, creators of zkSync technology, as their first president. In a conversation with Bloomberg, Murugesan shared his excitement about stepping into this new role as a founding partner, highlighting his ambition to help grow the business and take it to new heights.

“I’ve had a long-standing desire to assume the role of a complementary co-founder, where I can contribute significantly to growing a company, particularly smaller ones that are still in their early stages.”

Nana Murugesan

Murugesan announced his intentions to lead a team of sixty workers and initiate a major hiring process in the near future. Additionally, he mentioned that the company would focus on growing its marketing, legal, and policy departments.

Before starting at Matter Labs, Murugesan worked as the vice president of international and business development at Coinbase, a role he took on in January 2022. Previously, he had held different positions at Snap Inc., Samsung Electronics, and The Boston Consulting Group. In November 2023, Murugesan revealed his decision to leave Coinbase following news that the exchange would carry on its European Union operations from its Irish base.

In November 2022, Matter Labs successfully raised $200 million in funding, causing their estimated valuation to soar between $800 million and $1.2 billion, based on Dealroom’s calculations. This round of investment was supported by various investors such as a16z, Blockchain Capital, Dragonfly Capital, and Lightspeed Venture Partners.

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2024-04-18 12:51