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Cryptocat Author Gets Incredibly Fast Support to Create P2P Technology for Social Media

An anonymous reader quotes a report from TechCrunch: The idea for Capsule started with a tweet about reinventing social media. A day later, crypto researcher Nadim Kobeissi – best known for creating the (now-discontinued) E2E open-source crypto desktop chat app Cryptocat – had reaped a pre-seed investment of $ 100,000 for his microservices concept. in a light mesh network with the support of angel investor and former CTO of Coinbase Balaji Srinivasan, William J. Pulte and Wamda Capital.

The fledgling startup has a paper-based post-monetary valuation of $ 10 million, according to Kobeissi, who is working on the prototype – hoping to launch a Capsule MVP in March (as a web app), after which he intends to raise a startup round (targeting between $ 1 million and $ 1.5 million) to build a team and start developing mobile apps. For now, there’s nothing to see beyond Capsule’s landing page and a pitch deck (which he shared with TechCrunch for review). But Kobeissi says he was surprised at the level of interest in the concept.

“I posted this Tweeter and I was expecting 60 people at most to retweet, and then maybe I’ll set up a Kickstarter, ”he tells us. Instead, the tweet “blew up completely” and he ended up raising $ 100,000 in one day “- with $ 50,000 paid out on the spot.” I am not a young man. I ran a business based on consulting and based on university research and development departments, “he continues.” But at the end of the day – last Sunday, eight days ago – I was running a Delaware company. valued at $ 10 million with $ 100,000 of pre-seed funding, which is insane. Completely crazy.”



Cryptocat Author Gets Incredibly Fast Support to Create P2P Technology for Social Media

Source link Cryptocat Author Gets Incredibly Fast Support to Create P2P Technology for Social Media

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