In October we announced our agreement to be acquired by Circle. We are thrilled to let you know that we recently received the required regulatory approval and closed the transaction.
Since the announcement, we enjoyed reading the hundreds of supportive emails from the SeedInvest Community. We also responded to a myriad of questions about what this acquisition will mean for our team, our customers, and our platform. Now that things are official, we wanted to publicly address a number of the most common questions:
Q: Why did you decide to sell to Circle?
A: While we are proud of what we’ve accomplished over the past 6+ years, we still have a lot of work left to do. We are confident that we can achieve significantly more and at a higher velocity with Circle. Circle is a clear market leader, backed by some of the most reputable investors in the world and led by a world-class management team. Circle has raised $250 million from Goldman Sachs, IDG Capital, Accel, CICC, General Catalyst, Bitmain and Jim Breyer and Co-Founders Jeremy Allaire and Sean Neville took their two previous companies public. And Circle is just getting started. Simply put, they are an outstanding partner for us.
Q: What’s happening with the SeedInvest team?
A: We are happy to report that the entire SeedInvest team, including the two of us, is staying on to continue building what we started. We will join Circle’s team of more than 300 people and have the opportunity to serve a global customer base of more than 8.5 million individuals and 1,000 institutions.
Q: What will happen to the current SeedInvest business? Will you continue offering your current suite of products or discontinue them?
A: We are also delighted to let you know that we will continue operating as we always have, focused on democratizing startup investing, just with greater resources. SeedInvest will continue to empower startups to raise capital through Reg D, Reg CF and Reg A+ and will provide both accredited and non-accredited investors with access to startup investments.
Q: What’s next for SeedInvest?
A: As part of Circle we will chase the remaining pieces of our original vision for SeedInvest. Since the passage of the JOBS Act, we have leveraged the Internet to streamline the startup fundraising and investing processes. We believe that tokenizing startups can take things to another level by providing liquidity, enabling capital to flow across geographic borders, and paving the path for completely new types of capital formation. And startups are just the beginning.
Q: Where can I read more?
A: We encourage you to check out this blog post published today from Circle’s co-founders on the acquisition and the broader Circle vision.
We are forever thankful for our entire team for the countless hours, extraordinary effort, and deep passion they always put forth, our investors for the guidance and trust they granted us, and, of course, the amazing support that all of you have shown us since the beginning.
Selling your company is often compared to sending your first-born child off to college, so it was very important to us to ensure that SeedInvest was in good hands. Over the past nine months we’ve had the opportunity to really get to know the Circle team and we can’t wait to start working together. This is an exciting time for all of us at SeedInvest and we look forward to delivering an even better experience to you as part of the broader Circle family.
One journey ends … another begins.
Ryan & James
Ryan M. Feit
CEO & Co-Founder
COO & Co-Founder
This post was written by Tai Nicolopoulos on March 4, 2019
SeedInvest Officially Closes its Sale to Circle