Chia Network Considers Going for IPO, Chia Coin (XCH) Price Down 6%
2 hours ago by Steve Muchoki · 3 min read
Photo: Depositphotos
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Chia Network’s IPO is expected to clarify its regulatory environment and protect customers from market volatility by allowing them to use currency.
Chia Network In. plans to go public via an IPO this year with high consideration of a SPAC merger just a month after launching. The company raised $61 million from investors such as Richmond Global Ventures and Andreessen Horowitz. This more than doubled its valuation to $500 million. Breyer Capital, Slow Ventures, True Ventures, Naval Ravikant, Cygni Capital, DHVC, and Collab+Currency also participated in the funding round.
Home-grown Koo raises $30 million, valuation pegged at $150 million
4 days ago
Homegrown social-media company Koo, which was launched last year as a competitor to Twitter, raised $30 million as part of a Series B round, and is now valued at $150 million. The fresh round of funding will be utilised mainly to strengthen engineering, product and community efforts across all Indian languages at Koo, the company said in a statement.
Koo’s fundraise comes at a time when its primary competitor Twitter is going through a legal ordeal with the Delhi Police and Government of India. Twitter is fighting two battles at the same time: The first is related to a political fight between the ruling Bharatiya Janata Party and the Indian National Congress and the second, related to applicability of and compliance with the new Information Technology Rules 2021.
Chia Startup Valuation Stands at $500 Million, Considering Going for IPO
May 25 2021 · 11:02 UTC | Updated
May 25 2021 · 13:41 by Patrick Kariuki · 3 min read
Photo: Shutterstock
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Chia eyes an IPO in the course of the year. If presented with a lucrative SPAC deal the company wouldn’t shy away from exploring the opportunity.
Chia Inc, a blockchain digital assets network, founded by Bram Cohen, BitTorrent‘s founder, has seen its valuation doubling to $500 million after having additional funding to a tune of $61 million. The company sourced its funds through some of the industry’s key players including Andreessen Horowitz, and Richmond Global. Now there are talks that Chia may go for an IPO.
Amidst a growing narrative for more energy-efficient blockchain networks, Chia Network Inc has raised $61 million in its latest round of funding from investors such as Andreessen Horowitz and Richmond Global Ventures.
What Happened: According to a report from Bloomberg, the latest investment round valued the digital currency platform at $500 million.
Other high-profile investors like Breyer Capital, Slow Ventures, True Ventures, Cygni Capital, Collab+Currency, DHVC, and AngelList founder Naval Ravikant also participated in the round.
According to the firm’s President and Chief Operating Officer Gene Hoffman, the fresh funding will be “rocket fuel” for the company to become a trading and payment system used by governments, banks, and other institutions.