Buttercoin

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Buttercoin
Private
Industry Bitcoin marketplace/exchange
Founder Cedric Dahl, Bennett Hoffman[1]
Headquarters Palo Alto, California, U.S.[2]
Number of locations
1 office
Area served
USA
Key people
Cedric Dahl (CEO)
Bennett Hoffman (CTO)
Kevin Zhou (Head Economist)
Kevin Adams (Lead Developer)
Services Buy, sell, and trade bitcoin
Total assets ~$1.6 million (2013)[3]
Number of employees
4 (2013)[4]
Website Buttercoin.com

Buttercoin was a private American start-up company that provided digital currency exchange services to the US.[2][3] Specifically, Buttercoin operated a full order book trading platform for buying and selling bitcoins.

On April 6, 2015, citing a loss of interest in bitcoin from venture capital firms, the company announced that it was shutting down as of April 10, 2015.[5]

Funding

Y Combinator, Google Ventures (Kevin Rose and Chris Hutchins), Floodate, Initialized Capital, Rothenberg Ventures, and Reddit co-founder Alexis Ohanian invested approximately $1 million into Buttercoin.[1][4] A Swiss company, Centralway Ventures, invested an additional $250,000 into Buttercoin.[3] Combined with other sources, Buttercoin raised a total of $1.6 million as of September 2013.[3] Subsequently, Buttercoin raised an undisclosed sum from Wedbush Securities, making it the first bitcoin company to receive investment from a large Wall Street institution. [6]

References

  1. 1.0 1.1 Cutler, Kim-Mai (August 20, 2013). "YC-Backed Buttercoin Uses Bitcoin To Attack The $500B-A-Year Remittances Economy". TechCrunch. Retrieved November 30, 2013. 
  2. 2.0 2.1 Reutzel, Bailey (September 9, 2013). "Buttercoin Takes a Different Path to Handling Virtual Currency". PaymentsSource. Retrieved November 30, 2013. 
  3. 3.0 3.1 3.2 3.3 Lomas, Natasha (September 18, 2013). "Swiss Company-Builder Centralway Opens $50M Fund, Invests $250k In Bitcoin Whitelabel Exchange Buttercoin". TechCrunch. Retrieved December 1, 2013. 
  4. 4.0 4.1 Kolodny, Lora (August 19, 2013). "International Bitcoin Exchange Buttercoin Raises $1M to Revamp Remittance". VentureWire. Retrieved November 30, 2013. (Subscription required (help)). 
  5. Russell, Jon (April 6, 2015). "Google Ventures-Backed Bitcoin Exchange Buttercoin Is Shutting Down". TechCrunch. Retrieved April 6, 2015. 
  6. Kharif, Olga (November 17, 2014). "Bitcoin Startup Buttercoin Draws Wedbush as Investor". "Bloomberg". Retrieved December 9, 2014. 

External links