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Alchemy

From EverybodyWiki Bios & Wiki


Alchemy
File:Alchemy Web3 logo.png
Private
ISIN🆔
IndustryBlockchain
Founded 📆2017
Founders 👔Nikil Viswanathan and Joseph Lau
Headquarters 🏙️,
San Francisco, California
Area served 🗺️
Key people
Nikil Viswanathan, CEO
Members
Number of employees
🌐 Websitewww.alchemy.com/
📇 Address
📞 telephone

Alchemy is a private company headquartered in San Francisco, California. It provides software development tools and infrastructure services to blockchain companies.[1] Alchemy is used by most non-fungible token services[2] and is the most widely used brand of software development tools for creators of Web3 and blockchain services.[3] The company was founded in 2017. As of February 2022, it has raised $545.5 million in total venture capital investments.[4]

Corporate history[edit]

Alchemy was founded by Nikil Viswanathan and Joseph Lau in 2017[5] in their apartment.[4] The company was in stealth mode until December 2019,[6] when the software was taken out of beta.[1] It raised $15 million in venture capital funding in December 2019.[6] This was followed by $80 million in April 2021,[4] and $250 million in October 2021.[3] The $250 million investment valued the business at $3.5 billion.[3] In December 2021, Alchemy created a venture capital firm called Alchemy Ventures.[2] Alchemy Ventures finds startups in the blockchain ecosystem the firm believes are promising, then partners with investors for most of the financing.[2]

In February 2022, Alchemy raised another $200 million in venture capital.[4][7] This funding round valued the business at $10.2 billion.[4] Over the time between the Series C and Series C-1 (approximately three months), the number of Alchemy users tripled and Alchemy's services processed $105 billion in blockchain transactions annually, compared to $45 billion in October 2021.[4]

Software and services[edit]

Alchemy develops and markets tools and infrastructure services for blockchain companies.[1] It is an outsourced infrastructure company, similar to Amazon Web Services, but specialized for blockchain services.[2][6] Its business is similar to Microsoft, in that it provides a wide range of IT tools and services.[6] Most of the largest blockchains use Alchemy to operate their blockchain nodes,[2] which are replaced by Alchemy's software.[6] Alchemy has tools and services for analytics, monitoring, logging, APIs, and debugging.[5][6] It also offers a software development platform for blockchain developers.[3]

Alchemy is used by services like Ethereum-based cryptocurrency exchanges,[5] finance websites, or games,[6] and almost all non-fungible token services.[2] It is sold on a freemium business model where base services are free, but premium features are sold based on the amount of computing power used.[3][4]

References[edit]

  1. 1.0 1.1 1.2 More, Saniya (August 11, 2020). "Blockchain development platform Alchemy exits closed beta with official public launch". Yahoo Finance. Retrieved April 25, 2022.
  2. 2.0 2.1 2.2 2.3 2.4 2.5 Ehrlich, Steven (December 10, 2021). "Why A $3.5 Billion Crypto Firm Is Going To Invest In Its Own Clients". Forbes. Retrieved April 25, 2022.
  3. 3.0 3.1 3.2 3.3 3.4 Sternlicht, Alexandra (October 28, 2021). "Blockchain Developer Alchemy Raises $250 Million Series C At $3.5 Billion Valuation". Forbes. Retrieved April 22, 2022.
  4. 4.0 4.1 4.2 4.3 4.4 4.5 4.6 Azevedo, Mary Ann (February 8, 2022). "Alchemy, which aims to be the 'de facto platform' for developers to build on web3, is now valued at $10.2B". TechCrunch. Retrieved April 22, 2022.
  5. 5.0 5.1 5.2 "The Startup That Aims to Decrypt Blockchain for Business". Wired. December 17, 2019. Retrieved April 22, 2022.
  6. 6.0 6.1 6.2 6.3 6.4 6.5 6.6 Constine, Josh (December 17, 2019). "Alchemy is secretly fixing blockchain's node nightmare". TechCrunch. Retrieved April 25, 2022.
  7. Rooney, Kate (February 8, 2022). "Crypto start-up Alchemy tops $10 billion valuation amid blockchain funding frenzy". CNBC. Retrieved April 25, 2022.

External links[edit]


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