Circle won $60 million financing with Baidu, China Everbright Investment
The United States Internet financial company Circle6 announced 22 days month, won $60 million D round of investment provided by the China consortium, led Party voted for the IDG, BreyerCapital, GeneralCatalystPartners, Baidu, Nakajin Koko (CICCALPHA), China Everbright Investment Management Company, universal and the letter should also involved with the vote, in addition to the former chairman and CEO of IBM Peng Mingsheng (SamPalmisano) and Silver Lake Capital (SilverLake) co-founder Glenn Huggins (GlennHutchins) two individual investors.
At the same time, Circle founded the world can Chinese (CircleChina), invested millions of dollars provided by the seed investors, promote the development of the payment system in Chinese block chain technology based on social expectations, will use the dollar, pound, euro and RMB consumers connected together, is an independent China company.
Circle by JeremyAllaire and SeanNeville in the United States in 2013 co founded Boston, by the end of 2014 launched its first app, has attracted millions of users in 150 countries.
In October 2013, Circle announced a total of $9 million A round of investment, investors include BreyerCapital, AccelPartners and GeneralCatalystPartners.
In March 2014, Circle announced B round of investment totaling $17 million. AccelPartners, investors including BreyerCapital, GeneralCatalystPartners and OakInvestmentPartners.
In April 2015, Circle announced C round of investment totaling $50 million. Mainly from the GoldmanSachs and IDG capital funds.
The application prospect of Circle
IDG founding partner Xiong Xiaoge told the new financial reporter interview said, BreyerCapital has been a long-term partner of IDG capital in the past ten years, the founder of JimBreyer previously successful investment Facebook. Breyer is a IDG investment partner in the United States, this is the second time Breyer investment Circle CEOJeremyAllaire venture project, before he invested a start-up company is a video site Brightcove, and later the company listed on the nasdaq. The Jim itself is not engaged in technology, but because the shot before Jeremy, he saw Circle the company is introduced to me. We also feel very good, so we voted C round, Goldman also voted together with us.” Xiong Xiaoge said, D round of “we put a lot of money”.
Block chain is a public ledger platform, record and test all bitcoin transactions, using the block chain technology means that money is no longer the traditional bank settlement system, has become a fast and cheap way of cross-border transfers.
Circle goal is to bitcoin as a background to use network, users can with monetary form to take control of their own funds, in order to avoid bitcoin price volatility may bring losses. When the user wants to transfer the money, can buy short-term bitcoin, the Fund (the dollar, pound, Euro) transferred to the relevant bank account.
In 2015, Circle was awarded the New York state financial service bitcoin operating license (Bitlicense), followed by the opening of the dollar and sterling exchange services in the United states. In April this year, Circle received a license issued by the issuer of the financial conduct authority currency of the European Economic Area (EEAE-MoneyIssuer), electronic payment license, thus, Circle reached a cooperation with Britain’s Barclays Bank, the user is bound on Circleapp debit card, can realize the bitcoin exchange and pound. Circle said, will soon open to Spain euro exchange function.
Xiong Xiaoge is very optimistic about the Circle block chain and pay social vision. According to China Alipay and WeChat to pay, he said with confidence to the Circle team, that can create every day there are hundreds of millions of people worldwide use products.
Xiong Xiaoge introduction, Circle has also been Chinese with regulators, banks and other institutions to communicate and share information, the domestic research on the already very deeply, but now Chinese not easily engage, even caused a huge impact on the existing banking and financial system. But if the bank does not strengthen the study of block chain technology and participation, will face a huge impact brought about by the Internet banking.
Xiong Xiaoge is very optimistic about the Internet in the financial sector, that the financial sector in the Internet, are more likely to appear beyond the BAT company. But the Internet financial future bigger is not the 2C business, but the 2B business, such as banks and other institutions themselves need technical upgrading. IDG invested in the Internet banking, pay more attention to the technology, rather than the company’s ability to acquire assets.
Xiong Xiaoge said, IDG investment in TMT very seriously, and now in addition to continue to focus on 2C, except for individual users, but also has put a lot of B2B services, such as steel. In addition, for medical equipment, alternative energy, consumption upgrade, entertainment and sports tourism and attach great importance to. In artificial intelligence, IDG has also invested in Ecovacs cleaning robot.
Xiong Xiaoge believes that the investment has two: one is the best time to bubble before, but it requires vision; another is when the bubble burst and the recession, others may not vote, but it is one of the best investment opportunity. “So I always say, the market is our investment in the spring in winter.” When a market cold is the best time to invest, because the price is reasonable, the mentality of investors is relatively calm.
Now more funds in the market, IDG will have time to grab the project, “IDG ten million accounted for 10%, people will immediately give you twenty million, then get up and do a survey of white, I often laugh a saying: Chaos boxing killed grandfather.”
Xiong Xiaoge believes that the teacher or killed only two strokes: first, don’t mess with the punches, not involved in looting project. Second, have the teacher diligently, also learn new tricks again to do good. We must pay attention to market research, cold and heat have their own pace of investment.