ConsenSys Is Seeking $200 Million in New Funding: Report
ConsenSys Is Hunting $200 Million in New Funding: Report
The Info reports together with substances asserting the company intends to earn $50 million in earnings this year, primarily from contracts with government and enterprise clients that ConsenSys is pitching investors. The Brazilian National Social Development Bank verified to CoinDesk it had been in discussions with ConsenSys , last December.
Released at Mon, 15 Apr 2019 21:05:48 +0000
ConsenSys is seeking a funding increase.
ConsenSys founder Joe Lubin picture via CoinDesk archives
Ethereum co-founder Joe Lubin venture studio is looking to raise $200 million in investors, The Information reported Monday, in a rate of $1 billion.
The Information reports that ConsenSys earned”just $21 million in revenue in 2018.” It is unclear how that earnings relates to the many startups under the ConsenSys umbrella. Projects are currently seeking to raise capital on their own as startups resources tell CoinDesk.
Stepping back, ConsenSys was supported by Lubin luck and employed around 1,200 people in 2018. ConsenSys laid off 13 per cent of its staff when ethereum’s amount plummeted after the 2017 dividend boom fizzled. Adhering to a late-2018 re-organization dubbed”ConsenSys 2.0,” it became clear that partnerships with traditional, outside investors were a priority. Several survivors advised CoinDesk at January 2019 that additional cuts were on the horizon.