Aussie-founded blockchain email startup Sendy, which rewards and provide offers to people for engaging with marketing emails, has raised an amount of $500,000 in its initial coin offering (ICO) pre-sale yesterday.
Two crypto funds companies have led the pre-sale, one os if New Zealand based Techemy Capital and other is by Australian Apollo Capital, in the lead up to Sendy’s public ICO, planned to open later this year.
The company has its headquartered which is based out of Singapore, Sendy was founded last year by Aussies Josh Reyes and George Hartley which is a pair familiar with the startup journey.
Hartley previously co-founded Bluethumb, which is an online art marketplace, alongside his brother Ed Hartley. He also co-founded one company before that is SmartrMail, which is a personalized email marketing tool for e-commerce and graduate of the Startmate accelerator which is solely backed by Blackbird Ventures. At the latter, Reyes served as marketing coordinator.
According to Hartley, Sendy is designed to solve a “twofold problem” in the way emails are used. Because nowadays emails are free, there’s a lot of scope for spam, and according to Hartley more than 50% of all emails are going to junk — and very little incentive for readers to click on content which they provide. This means interaction with legitimate marketing content is also getting reduced.
Sendy provides a decentralized email API, which helps the companies that can attach value, in the form of Sendy tokens, to their emails. It works on the concept that “your attention is valued,” Hartley says, and rewards customers for engaging with the content of marketing.
As well as the pre-ICO funding, the co-founders have also got some of the high-profile advisors on board in Horizon State founder Jamie Skella and, Dave Bean, head of sales at Earn.com, which was recently acquired by Coinbase at an amount of $US100 million. “They’re two lovely guys, we’re lucky to have them,” Hartley says.
Blockchain and the cryptocurrency is “such a new space,” he adds, so “having people who have done it before is important.”
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