Blockstack startup raised $50 million in ICO, with the participation of venture capital funds

ICO Blockstack startup is officially completed – the company announced the raising of $ 50 million through the sale of the 440 million token. Krausel started in November, and was attended by such investors as Union Square Ventures (USV), Foundation Capital, Lux Capital, Winklevoss Capital, Capital Blockchain, Digital Currency Group, founder of Techcrunch, Michael Arrington (Michael Arrington) and founder of Digg Kevin rose (Kevin Rose).

In their statements, the Blockstack team sought to emphasize that all investors should be considered as long-term partners, each of which has agreed to take an open stance against the cryptocurrency of the project.

Startup Blockstack stated that the largest investment coming from an unnamed Fund, which has invested in the project $ 6 million, agreeing to a four-year lock purchased tokens (terms to other investors are in two-year lock with a maximum of $ 3 million). Co-founder Muneeb Ali (Muneeb Ali) said:

«I think it’s more like a round of financing with sophisticated professional investors, not random people that have invested by chance».

It is reported that more than 800 people and organizations took part in a public sale of tokens (the pre-sale is not expected), where the minimum investment was $ 3,000. The average size of investments made 6 $ 140.

From the funds received only $ 10 million will be immediately available to the company, as the startup has agreed to a lock means until, until you have reached certain stages of development. The next $ 20 million will be released when the Advisory Board confirms that the company has released the next version of their product.

The remaining $ 20 million will be available when the startup reaches the final stage – a million confirmed users of the platform. Co-founder Ryan Shea says:

«We have always stressed that the sale of tokens is a very important thing for the environment and for us – it allows us to develop further. But at the end most importantly, what action we are taking to distribute the token and the role he plays for the environment as a whole.»

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