Alchemy Adds Vikram Pandit, Jeffrey Katzenberg as New Investors
(Bloomberg) -- Alchemy, a provider of blockchain technology, brought on new investors including former Citigroup Inc. Chief Executive Officer Vikram Pandit and Jeffrey Katzenberg, the onetime chairman of Walt Disney Co. and the co-founder of Dreamworks Animation LLC.
Other investors announced Wednesday include Doordash Inc. CEO Tony Xu; Guillaume Pousaz, founder and CEO of Checkout.com; and venture capitalist Vivi Nevo. Terms of the investments weren’t disclosed.
San Francisco-based Alchemy raised $80 million from investors in April, valuing the firm at $500 million. Its technology drives more than $30 billion in transactions annually, mostly on the Ethereum blockchain. It handles back-end programming for all major non-fungible token platforms, including Nifty Gateway, OpenSea, CryptoPunks and SuperRare. The company has seen growth increase about 10-fold since the April fund-raising.
“We’re excited to have some of the best operators in the world guide us in this next stage of growth,” Joe Lau, Alchemy’s co-founder and chief technology officer, said in an e-mailed statement.
Alchemy is helping to create a business model called decentralized finance, as opposed to having a centralized entity that controls operations. The Ethereum blockchain makes that possible by allowing computer programs known as smart contracts to operate within that distributed network.
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