Buttercoin

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Buttercoin
Type Private
Industry Bitcoin marketplace and transfer
Founders Cedric Dahl, Bennett Hoffman[1]
Headquarters Palo Alto, California, U.S.[2]
Number of locations 1 office
Area served Worldwide
Key people Cedric Dahl (CEO)
Bennett Hoffman (CTO)
Kevin Zhou (Head Economist)
Kevin Adams (Lead Developer)
Services Bitcoin marketplace software in partnership with local businesses[1]
Total assets ~$1.6 million (2013)[3]
Employees 4 (2013)[4]
Website Buttercoin.com

Buttercoin is a private American start-up company that provides Bitcoin trading services to other companies.[2][3] Specifically, Buttercoin develops a white-labeled trading platform for creating local Bitcoin marketplaces, which provides a source of liquidity for Bitcoin enterprises.[1]

Locations[edit]

The initial planned Buttercoin partnership locations were in India,[1] the U.S., Canada, Brazil, Hong Kong,[2] and several locations in Europe.[3]

Developers[edit]

The founders Cedric Dahl and Bennett Hoffman have previously built a hacker house in Austin, Texas, sold an analytics company, and filmed a Parkour documentary.[1] Previously employed by Microsoft, Dahl worked on applying analytics to marketing and managed a $120 million budget.[1] Together, Dahl and Hoffman initially started a Bitcoin mining operation called CoinHarvest, and subsequently moved on to developing Buttercoin.[1] Kevin Zhou previously worked as economist at Standard & Poor's.[1]

Funding[edit]

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]

References[edit]

  1. ^ a b c d e f g h i 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. ^ a b c Reutzel, Bailey (September 9, 2013). "Buttercoin Takes a Different Path to Handling Virtual Currency". PaymentsSource. Retrieved November 30, 2013. 
  3. ^ a b c d e 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. ^ a b Kolodny, Lora (August 19, 2013). "International Bitcoin Exchange Buttercoin Raises $1M to Revamp Remittance". VentureWire. Retrieved November 30, 2013. (subscription required (help)). 

External links[edit]