startup

Bitcoin Browser Brave Receives 4.5 Million US Dollar Investment

by admin .

The developers of Ad-Blocking Browser Brave have received a $4.5 million investment. With this money, the creators want to further develop the browser and create a way in which users can pay voluntary micropayments to websites and at the same time surf advertising-free.

After the launch of the first Brave version at the beginning of the year, there was initially a big outcry from the big online media. They signed a “cease-fire & cease-fire letter” addressed to Brave. Among the signatories were some of the world’s largest publishers – they described the browser as “obviously illegal” and emphasized their losses by blocking advertising revenues.

San Francisco-based startup has now raised $7 million for a tight growth plan

Since then, the founders of Brave and the aforementioned publishers have been working closely on a joint solution. They want to find a solution that is satisfactory for both sides – for the users of the browser and for the media, which until now have been dependent on advertising revenues.

In an interview with CoinDesk, Brave CEO Brendan Eich said he wants to use the investment to double the number of employees from 10 to 20 in order to quickly fill the gap between publishers and Internet users.

Eich: “We want to create a win-win situation for Internet users and publishers. We put users first, but we also want to create better earning opportunities for publishers”.

The most recent investment round involved Founders Fund’s FF Angel, Propel Venture Partners, Pantera Capital, Foundation Capital and the Digital Currency Group.

Brave as a bearer of hope

Dan Morehead, CEO of Pantera Capital, invested $1 million in the company himself. He says Brave is the first browser with the potential to satisfy website operators and consumers alike.

Morehead also emphasized the history of the formerly dominant browser Netscape Internet Explorer. They were slowed down by new innovations and features, according to Morehead.

According to Morehead, the Brave business model and the innovation behind it protects the identity of the users and at the same time offers companies the opportunity to activate new sales channels.