Remaining ChangeTip Assets Are Still Looking For A New Home
Getting acqui-hired usually is a joyous event for people who work at the startup, But that doesn’t mean life becomes a lot easier all of a sudden, as ChangeTip will testify to. Albeit the company was acqui-hired by Airbnb a few months ago, selling off remaining assets can be quite an uphill battle.
Airbnb took a vested interest in Bitcoin tipping service ChangeTip and decided to acqui-hire the company and its team earlier this year. According to our sources, Airbnb paid US$1.25m for the Bitcoin startup, albeit this deal did not include all of the assets that come with it.
Remaining ChangeTip Assets Up For Grabs
In fact, ChangeTip has been working tirelessly to sell off any remaining assets since being acqui-hired. After contacting several dozen companies so far, the Bitcoin startup has had no luck so far in the sale of these additional assets. All of the contacted companies outright passed on any deal, which is rather disconcerting.
Unlike what most people had anticipated, not all of the team’s engineers were part of the acqui-hire by Airbnb either. It appears as if several remaining engineers come as part of selling off these remaining assets, but finding a suitable buyer is proving to be a significant challenge.
This news is rather surprising, especially when thinking how ChangeCoin – the overarching company – saw plenty of interest from investors in the not-so-distant past. Raising over US$4m throughout three different public rounds of funding is quite significant. However it appears as if the ChangeTip project was the primary source of interest to those investors at that time.
For the time being, it remains unclear as to what will happen with the remainder of ChangeTip assets. After so many letdowns, there is little other option than to keep offering the package to other companies.
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