Blockchain Announces Growth, the Future and New Partners

By
Giulio Prisco @giulioprisco
October 7, 2014

Blockchain, the providers of the popular blockchain explorer and Bitcoin wallet, announced that they have closed a Series A round of over 30M of growth capital, co-lead by Lightspeed Venture Partners and Wicklow Capital.

Jeremy Liew and his team at Lightspeed Venture Partners were one of the very first Silicon Valley firms to begin actively following the Bitcoin space. Wicklow Capital is the personal investment vehicle for the founders of GETCO (now KCG), a global market leader in technology enabled trading and financial services.

In addition to Lightspeed Venture Partners and Wicklow Capital, Blockchain brought Richard Branson, Mosaic Ventures, Prudence Holdings and some strategic angels on board to further leverage their ability to grow and bring Bitcoin to the next 20 million consumers.

The company also announced that their growth has accelerated, and they currently have 2.3 million consumer Bitcoin wallets at Blockchain.info, which makes them the world’s most popular Bitcoin wallet.

The New York Times reported the deal a few hours before the official announcement.

“Since it was founded in 2011, Blockchain, which is based in Britain, has gained respect in the industry for adhering to the virtual currency’s original philosophy of anonymity and decentralization. Roger Ver, a libertarian known in some circles as the Bitcoin Jesus, was the first backer and supporter of the company.”

“‘Over the course of the next 10 years, Bitcoin is going to have a big impact,’ said Jeremy Liew, a partner at Lightspeed who will join Blockchain’s board. ‘Where is the central nexus of value creation in this whole industry? It has to be the wallet.'”

“Peter Smith, the president of Blockchain, said the company planned to use its new financing to expand and to invest in developing markets. The company says it is working on software to make it easier to transfer Bitcoin. ‘Right now, we’re going into a period where it’s not just enough to have Bitcoin be tantalizing,’ Mr. Smith said. ‘We need Bitcoin to actually be useful.'”

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Blockchain is the world’s most popular web based bitcoin wallet and the most highly trafficked Bitcoin website. The company was founded in August 2011 by Ben Reeves, a developer from the United Kingdom. The site began as a Blockchain explorer intended to make it easier for Bitcoin users to study transactions and analyze the bitcoin economy. Shortly after, Blockchain Wallet was launched, the first client side JavaScript bitcoin wallet providing a secure and convenient way to store and use bitcoins.

Images from Blockchain and Shutterstock.

Last modified (UTC): January 22, 2016 16:40

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