Startup of ex-Meta developers is looking for $ 2 billion: report
Startup of ex-Meta developers is looking for $ 2 billion: report
- The target rating of $ 2 billion should be much higher according to The Information than mystens Serie-A-round
- This level could change if equity investors receive additional rights
Mysten Labs, a startup that focuses on web3 and blockchain infrastructure, is reportedly in discussions in order to raise a series B round with an evaluation of $ 2 billion.
The target rating of mysten of $ 2 billion is much higher than in the previous round, said two people familiar with the matter. This is remarkable because some companies have been struggling with layoffs, down rounds and uncertainties recently.
But this goal could report reportedly, depending on whether equity investors secure additional rights to buy tokens that are compatible with the blockchains of Mysten, and the exercise price to exercise these options.
The startup collected $ 36 million in a donation round of Serie A under the direction of Andreas Horowitz in December in December Rel = "Nofollow Noopener" Target = "_ blank" https://medium.com/mysten-labs/introducing-mysten-building-foundational- Infra-for-web3-7e5eccb "> Blogging Is not clear from the company. Other supporters are LightSpeed, Coinbase Ventures, Electric Capital, Standard Crypto, NFX and Slow Ventures.
Mysten was founded in 2021 and focuses on building a blockchain infrastructure to enable decentralized applications, including crypto gaming. His co-founders- Evan Chang, Sam Blackshear, Adeniyi Abiodun and George Danezis- are former employees of Novi Research, the research and development team of META for cryptocurrencies, where they have participated in the development of StableCoin Diem.
Blockworks reported in February that the former big tech employees felt restricted by their previous employer and wanted to make the freedom to realize their own vision.
Mysten did not answer the request from Blockworks for a comment until the editorial deadline.
The concerns of investors in the crypto industry has increased digitally as a result of the falling assets and the recent insolvencies from Three Arrows Capital and Voyager. Despite this external background of fear, money is still flowing into blockchain-based companies, while investors are looking for opportunities to benefit from the industry-wide downturn.
If mysten would achieve its fundraising goal this time, this would not only indicate a firm belief to the potential of the startup, but also to a trend reversal for the entire crypto industry.
"In today's Baisse you can see some of the worst-case scenarios," said Daniel Tal, project manager at Ichi, in an interview with Blockworks. "From a positive point of view, this is the best time to build."
"The bear market is open to these holes that we have in some of our protocols. And now we see how different types of communities build up to close these gaps and create logs that are much more resistant," he added.
bring the best crypto and findings of the day into your inbox every evening. .
The article Startup from ex-meta devs Seek $ 2b Valuation: Report is not a financial advice.