|Headquarters||New York, New York|
|Key People||Muneeb Ali and Ryan Shea, Founders|
|Products||Decentralized computer network that hosts independent applications|
Blockstack went through multiple rounds of funding in its early days. In November 2014, a year after it was founded, the company announced a seed round of funding led by Naval Ravikant, CEO of AngelList. Blockstack raised $1,330,000. In 2017, it raised an unknown amount of money through a venture funding round in which the only investor was Rising Tide, a Silicon Valley VC firm. It closed its Series A round, led by Union Square Ventures, in 2017 with $4 million raised. The company also launched an initial coin offering (ICO) in 2017, for which it raised almost $53 million. Investors for this ICO included Union Square Ventures, Naval Ravikant, and Winklevoss Capital.
The U.S. Securities and Exchange Commission (SEC) approved Blockstack's 2019 offering of $28 million worth of "Stacks Tokens" (STKs) to the public in conformance with the SEC's Regulation A+, which provides an alternative approach to traditional initial public offerings (IPOs). Unlike most IPOs, Stacks Tokens do not provide an equity stake in the issuer, Blockstack. According to co-founder Muneeb Ali, the token had to be built "from scratch," and designed specifically to fit Reg A+ standards. The ICO launched July 11, 2019. Reg A+ offering closed on September 9, 2019.
With more than 4,500 participants in all of its token sales, Blockstack raised $15.5 million from sales of Stacks under Reg A+ and another $7.6 million through a delayed delivery sale of Stacks to Asian customers.
Products and services
Blockstack is an online platform for developing decentralized applications, or dApps. Blockstack also created Stacks Tokens, with which the company received approval from the SEC to launch a regulated initial coin offering.
Stacks Tokens, offered through their own website, are utility tokens to be used by developers and their customers. According to Blockstack, Stacks Tokens provide the "fuel" for registering transactions on the Blockstack blockchain. Blockstack says that its blockchain will contain very little developer logic, avoids smart-contract design and encourages decentralization of data storage. At the time of the SEC's Stacks Token approval, more than 165 applications had already been built on Blockstack.
- Muneeb Ali, Founder
- Ryan Shea, Founder
- List of Blockstack's 6 Funding Rounds from 28 Investors. Crunchbase.
- Rising Tide. Crunchbase.
- Binance to become first exchange to list Blockstack's tokens. The Block Crypto.
- Blockstack Is Planning One of the First Reg A+ Compliant Token Offerings In the US. CoinDesk.
- US SEC Approves Blockstack Token Offering Under Regulation A+. Cointelegraph.
- Blockstack’s Regulated Token Offerings Raise $23 Million. CoinDesk.
- SEC Clears Blockstack to Hold First Regulated Token Offering. Wall Street Journal.
- Sale Deck. Blockstack.