The nascent startup has a post-money valuation on paper of $10 million, according to Kobeissi, who is working on the prototype - hoping to launch an MVP of Capsule in March (as a web app), after which he intends to raise a seed round (targeting $1 million-$1.5 million) to build out a team and start developing mobile apps.įor now there’s nothing to see beyond Capsule’s landing page and a pitch deck (which he shared with TechCrunch for review). But Kobeissi says he was startled by the level of interest in the concept. “I posted that tweet and the expectation that I had was that basically 60 people max would retweet it and then maybe I’ll set up a Kickstarter,” he tells us. Instead the tweet “just completely exploded” and he found himself raising $100,000 “in a single day” - with $50,000 paid in there and then. I’ve been running a business based on consulting and based on academic R&D services,” he continues. “But by the end of the day - last Sunday, eight days ago - I was running a Delaware corporation valued at $10 million with $100,000 in pre-seed funding, which is insane. Completely insane.”Ĭapsule is just the latest contender for retooling Internet power structures by building infrastructure that radically decentralizes social platforms to make speech more resilient to corporate censorship and control. The list of decentralized/P2P/federated protocols and standards already out there is very long - even while usage remains low. Get the latest Pittsburgh local news, breaking news, sports, entertainment, weather and traffic, as well as national and international news, from the Pulitzer Prize-winning staff of the Pittsburgh Post-Gazette. ![]() the latest contender for retooling Internet power structures by building infrastructure that radically decentralizes social platforms to make speech more resilient to corporate censorship and control. Extant examples include ActivityPub, Diaspora, Mastodon, P2P Matrix. Extant examples include ActivityPub, Diaspora, Mastodon, P2P Matrix, Scuttlebutt, Solid and Urbit, to name a few. Cryptocat social gets insanely backing to.
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