PlayIconNav
BTC
$63,852.06+3.10%
ETH
$2,537.33+5.57%
BNB
$573.71+2.39%
SOL
$146.38+5.79%
XRP
$0.58887856+0.43%
DOGE
$0.10624917+2.24%
CD20
$1,979.93+3.28%
TRX
$0.15246738+1.71%
ADA
$0.35965318+3.22%
AVAX
$27.87+8.50%
WBTC
$63,700.83+2.95%
SHIB
$0.00001438+4.01%
Ad
Markets
Election 2024

Bitcoin-Powered Marketplace OpenBazaar Raises $200k in New Funding

OB1, the startup behind the bitcoin-powered decentralized marketplace OpenBazaar, has raised new funding from investment firm DCG.

By Stan Higgins
AccessTimeIconJun 2, 2017 at 4:30 p.m. UTC
Updated Aug 18, 2021 at 6:15 p.m. UTC
Presented By Icon

Election 2024 coverage presented by

Stand with crypto
shutterstock_212751259-2

OB1, the startup behind the bitcoin-powered decentralized marketplace OpenBazaar, has raised $200,000 in new funding from investment firm Digital Currency Group.

OpenBazaar is an open-source marketplace protocol that acts like a kind of decentralized eBay, connecting buyers and sellers who use bitcoin rather than, say, credit cards. The marketplace first went live last April.

VolumeMuteUnmute

Guild of Guardians Built to 'Win' the Web2 Mobile Space: Game Director

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0

    • The startup said it has raised $4.2m to date following the DCG investment. In December, OB1 announced that it had raised $3m in a funding round led by Berlin-based VC BlueYard. Andreessen Horowitz and Union Square Ventures also backed that round after they took part in an earlier $1m round alongside angel investor William Mougayar.

    With the raise, the startup is continuing to push ahead with plans to launch a new version of OpenBazaar later this year.

    "OpenBazaar has seen steady growth since its launch just over a year ago," Brian Hoffman, OB1's chief executive, said in a statement, adding:

    "The network represents important strides forward in peer-to-peer and blockchain technology and we are honored to have the kind of investment partners who also share our vision for bringing it to life."

    Image via Shutterstock

    Disclosure: CoinDesk is a subsidiary of Digital Currency Group.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.