Alchemy’s Impressive Funding Journey
In a remarkable turn of events, Web3 development platform Alchemy has announced a new funding round that brought in a whopping $200 million, boosting its valuation to a staggering $10.2 billion. This places Alchemy just above the prestigious decacorn threshold. But wait—how did we get here?
Who’s Footing the Bill?
This latest funding round was spearheaded by venture capital heavyweight Lightspeed, with support from Silver Lake, a prominent global private equity firm. Existing investors also joined the fun, pushing everyone’s favorite blockchain development platform further into the financial stratosphere.
From $3.5 Billion to $10.2 Billion: What Changed?
Back in October 2021, Alchemy was riding high with a $3.5 billion valuation following a $250 million Series C fundraising blitz led by the illustrious Andreessen Horowitz. Fast forward to today, and the company has witnessed a jaw-dropping three-fold growth in the number of Web3 projects sprouting on its platform. You could say they’ve stepped into the fast lane.
Transaction Growth: A Driving Force
Another heavy hitter in Alchemy’s growth story is the skyrocketing annualized on-chain transaction value, which has skyrocketed to $105 billion. Just to put things in perspective, this is a stark contrast to the $45 billion noted back during the Horowitz funding frenzy. If that’s not an impressive trajectory, then I don’t know what is!
The Vision Ahead
Alchemy’s co-founder and CEO, Nikil Viswanathan, has his sights set firmly on the future. He remarked, “In 2022, we’ll be doubling down on our commitment to meeting developer needs in more places, making it easier than ever to unlock the potential of Web3.” And who wouldn’t want to unlock that kind of potential?
Strategic Use of Funds
The newly acquired funds will be directed towards spreading the gospel of Web3 adoption. Among the exciting initiatives is the launch of Web3 University, an open educational resource crafted for the curious minds eager to dip their toes into Web3. They’re also launching Alchemy Ventures and a snazzy nonfungible token (NFT) API designed specifically for web developers wishing to embrace the digital collectibles craze.
The Web3 Ecosystem Grows
Speaking of growth, the recent white paper from the Really Simple Syndication (RSS) protocol outlines ambitious plans to integrate its well-known internet feed updates into the Web3 sphere. With RSS3, developers will have access to an RSS3 source file that can aggregate online activities, paving the way for the creation of Web3-centric social media, content networks, games, and other data-driven platforms. The Web3 universe keeps expanding!
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