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Basno

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Basno
Basno logo.png
Type of businessPrivate
Type of site
Badge collecting
Available inEnglish
FoundedNew York City, United States (September 2010 (2010-09))
Headquarters228 Park Avenue, New York City, New York, United States
Area servedWorldwide
Founder(s)
  • Nicholas Thorne
  • Kjartan Olafsson
  • Henrik Werdelin
CEONicholas Thorne
IndustryInternet
ProductsDigital badge software
Websitewww.basno.com
RegistrationRequired
Current statusActive

Basno is a platform that allows organizations and individuals to create and collect digital badges. Badges often serve as recognition for accomplishments, skills, commitments and expertise. The platform provides tools to create, issue, collect and display badges. Platform services include technology to control access to badges by automatic data management and verification.

Company history[edit]

Basno was founded in the fall of 2010 by Nicholas Thorne, Henrik Werdelin, and Kjartan Olafsson.[1][2] The group raised $225,000 in seed funding in 2011. By May of that year, organizations such as Tough Mudder, SoundCloud, and the College of William & Mary were issuing digital badges on Basno.[1] In 2011 the ING New York City Marathon provided "Finisher" badges to all athletes that completed the marathon.[3] This marked the first time a world marathon major had created a digital equivalent of its medal. Basno reported that the marathon badges, which contained each runner’s name and time, were being shared on Facebook by 70% of people who claimed their badge and that 25% of badge claimers were changing their Facebook profile pictures to display the badges.[3]

Major brands such as Virgin America, Equinox, and HBO issued badges on Basno in 2012. In July 2013, Basno closed a $1 million funding round from, among others, Index Ventures, RRE, MESA+, Plough Penny Partners, and Empire Angels.[4] The funds were used to grow Basno’s team, enhance badge owner experiences, develop new badge issuing tools, and bring on high quality brands.[2][4][5]

Usage[edit]

The Basno platform allows brands and businesses to create digital badges.[1][4][6] In contrast to similar services that allow users to earn badges by "check-in" at certain locations, badges on Basno are often focused on accomplishments like running a marathon or being awarded a particular scholarship.[1] The digital badges can also be used to signify affiliation and support of a community or movement.[1][4]

Other companies on Basno issue badges as part of an employee recognition program or loyalty program. Badges are a way for these employees to celebrate their success.[7][8]

Digital badges[edit]

Digital badges are online signs of achievement, affiliation or skill. They are stored online, typically as part of a broader collection of badges and can be shared on blogs, social media accounts, or resumes. Represented visually as a PNG file, badges contain various types of metadata that certify who the issuing organization of the badge is, who owns the badge, and what it represents. These bits of metadata allow the owner of the badge to assert their achievement, affiliation or skill online.[7][8]

The success of digital badges ultimately lies with their potential to change the way people represent themselves online. By acting as credentials and other validated pieces of data, digital badges could be part of the curated future in which our online identities gain more significance and get us value in the physical world.[4][7][8]

Angel investor badges[edit]

Following the SEC’s restructuring of rules around startup fundraising and investing in September 2013, Basno began offering digital badges to accredited investors who can validate their status through third parties. Investor badges are reserved for individuals with "an income of at least $200,000 a year or a minimum of $1 million in assets, not including his or her primary residence, according to U.S. standards."[9][10]

References[edit]

  1. 1.0 1.1 1.2 1.3 1.4 Courtney Boyd Myers (May 31, 2011). "Basno brings trophies and brand loyalty to the social web". The Next Web. Retrieved October 10, 2013.
  2. 2.0 2.1 "Basno raises $1M in series funding". FinSMEs. July 3, 2013. Retrieved October 10, 2013.
  3. 3.0 3.1 Courtney Boyd Myers (November 7, 2011). "Basno awards virtual badges for NYC Marathon finishers". The Next Web. Retrieved October 10, 2013.
  4. 4.0 4.1 4.2 4.3 4.4 Natasha Lomas (July 7, 2013). "Basno Raises $1M For Its Digital Badges Platform That Aims To Monetise Boasting". TechCrunch. Retrieved October 10, 2013.
  5. "Basno Receives $1,000,000 New Financing Round". Xconomy. July 7, 2013. Retrieved October 10, 2013.
  6. Roger Hollings (June 15, 2011). "Basno.com – Display Digital Items With Pride". KillerStartups. Retrieved October 10, 2013.
  7. 7.0 7.1 7.2 "About Basno". Basno. Retrieved October 10, 2013.
  8. 8.0 8.1 8.2 "Basno Profile". VentureBeat Profiles. Retrieved October 10, 2013.
  9. Catherine Clifford (September 19, 2013). "Pouncing on New SEC Rules, Entrepreneurs Develop Tech-Based Solutions for Accrediting Investors". Entrepreneur. Retrieved October 10, 2013.
  10. Lora Kalodny (September 23, 2013). "Startups, VCs Now Free To Advertise Their Fundraising Status". The Wall Street Journal. Retrieved October 10, 2013.

External links[edit]

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