![]() ![]() “It just added capabilities that weren’t possible before. “When you look at the computer, the internet didn’t replace the computer,” he added. We’re still in the baby web3 phase.” Alchemy CTO and co-founder Joe Lau told TechCrunch. There was a lot of excitement in the dot.com era about the baby internet. “We think we’re just in the first inning of web3. But with web3 advancing as quickly as it has been, the company wants to have the runway it needs to grow accordingly. Viswanathan said the company has barely touched all the capital it previously raised. In just the last 12 months, NFT marketplaces built on Alchemy have delivered more than $1.5 billion in royalties to artists, with almost $1 billion of that coming in just the last three months, the company said. It’s safe to say that Alchemy’s growth figures are evidence of a massive acceleration of growth in the web3 ecosystem as a whole. “There aren’t really any prior examples of growth like this to compare to, but you can look at how enduring businesses like Microsoft grew and see where Alchemy has the potential to go.” “You know you’re onto something special when your business continues to accelerate even though the market you operate in hits turbulence, and that’s exactly what’s happening with Alchemy,” said Amy Wu, partner at Lightspeed. The company’s impressive growth comes amid a volatile time in the crypto space, which has seen many ups and downs over the past year. ![]() ‘AWS for blockchain’ Alchemy boosts valuation to $3.5B with $250M raise “The company basically powers the entire industry.” ![]() “Basically, the most important companies blowing up in crypto are powered by Alchemy, so by investing in Alchemy you get a broad index of the whole space,” one of those sources said. Sources familiar with internal happenings at Alchemy told TechCrunch that the startup has increased its user base by nearly 50% even just since it closed this latest round. Since that time, profitable Alchemy has seen dramatic growth on its platform. It launched its offering in August of 2020. Its developer platform aims to remove the complexity and costs of building infrastructure while improving applications through “necessary” developer tools. Notably, all of the company’s previous investors - which include the likes of Andreessen Horowitz (a16z), Coatue Management, DFJ, Pantera, Lee Fixel’s Addition - also put money in the latest financing.Īlchemy’s goal is to be the starting place for developers considering building a product on top of a blockchain or mainstream blockchain applications. Not bad for two guys who started the company out of their apartment five years ago.Įxisting backer Lightspeed Venture Partners and new investor private equity firm Silver Lake co-led Alchemy’s latest investment, which brings the company’s total raised since its 2017 inception to $545.5 million. To further put that into context, that’s a gain of nearly $1.1 billion in value per month. This means the startup has seen its value surge by nearly 3x since October and by a staggering 19.8x since last April - just a little over nine months ago. And in late April of 2021, the startup was valued at $505 million after an $80 million Series B investment. In October, the startup was valued at $3.5 billion after a $250 million Series C round. What is remarkable about this raise is the velocity at which Alchemy has managed to grow its valuation in a relatively short period of time. And put simply, Alchemy wants to do for blockchain and web3 what AWS (Amazon Web Services) did for the internet. You can join them.As proof that web3 is not some passing trend, blockchain infrastructure startup Alchemy announced today that it has closed on a $200 million Series C1 equity round that values the company at $10.2 billion.įor the unacquainted, web3 refers to a decentralized web based on the blockchain. In the midst of an unrelenting homelessness crisis, Urban Alchemy is forging a hopeful path. Urban Alchemy has turned the whole notion of incarceration on its head.” “It’s a revolutionary and simple idea, but nobody thought of it before. “Your support will help Urban Alchemy develop more jobs, uplift more neighborhoods, and provide complementary strategies to policing,’’ says Bayron Wilson, co-founder and Chief Operating Officer, who was once incarcerated. For formerly incarcerated people with people skills, emotional intelligence, and empathy, Urban Alchemy provides a living wage and excellent benefits. Urban Alchemy is seeking support for its campaign to hire more people who have been incarcerated to help unhoused residents and keep neighborhoods safe and clean. Guest Services Supervisor Bay Area Job Creation ![]()
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