Qulian to Raise $234M During Series B Funding Round

Qulian sets out to develop enterprise-grade solutions based on its hyperchain blockchain platform
05 June 2018   753

Chinese company Qulian Technology, which created the blockchain platform Hyperchain, announced the completion of the series B financing round, in which the company managed to attract 1.5 billion yen (234 million dollars). This is reported by Coindesk.

According to a statement that Qulian published on Sunday, Xinhu Zhongbao, a real estate and finance company, became the lead investor of the round. It announced it plans a week ago, on May 27, when it applied to the Shanghai Stock Exchange.

The document says that Xinhu Zhongbao intends to invest 1.23 billion yen ($ 192 million) in Qulian, which will be divided into 2 parts: $ 17 million will be directed to the authorized capital of the company, and $ 175 million to new shares. Thus, as a result of the transaction, the investor must receive a 49% stake in Qulian.

This is a business judgement made by the company and other co-investors based on a comprehensive evaluation of Qulian. There is a risk of a mismatch in (Qulian's) income and valuation.

Xinhu Zhongbao Team

Qulian was founded in 2016 and is developing corporate solutions based on its Hyperchain blockchain platform. According to the application of Xinhu Zhongbao, in 2017 Qulian's income was 281 thousand dollars, and net losses - 2.34 million dollars. The company itself is estimated at 234 million dollars.

EOS to Buy $30M Worth Domain For Its Social Network

Earlier, CEO reported that his company will spent about $150M to develop Voice, and looks like "voice.com" purchase for $30M is one of the first steps
19 June 2019   71

The Block.One company, known for developing the EOS blockchain protocol, acquired a domain for its new social network Voice for $ 30 million. This is evidenced by documents published on the website of the US Securities and Exchange Commission (SEC).

Documents were provided by MicroStrategy, an analytical and mobile software provider. It follows the “voice.com” domain, registered in the GoDaddy domain name registry, was transferred to the EOS developer on May 30, 2019. After 2 days, Block.One officially announced preparations for the launch of a social network.

Block.one has made a smart strategic decision in choosing Voice.com to be the internet domain name for its new social media platform. The word ‘voice’ is simple and universally understood. It’s also ubiquitous — as a search term, it returns billions of results on the internet. An ultra-premium domain name like Voice.com can help a company achieve instant brand recognition, ignite a business, and massively accelerate value creation.

Marge Breya 

Senior Executive Vice President and Chief Marketing Officer, MicroStrategy Incorporated. 

The commercial model of MicroStrategy is based, among other things, on the accumulation and sale of such expensive domain names.

According to Block.One, the identification of users and the use of the EOS blockchain in the social network will help to avoid the massive influx of bots, which often affect other members of this niche. Earlier, CEO Block.One Brendan Blamer reported that his company spent about $ 150 million to develop Voice.