Bitcoin Startup Purse.io to Shut Down as Acquisition Talks Surface
San Francisco-based startup purse.io is shutting down as talks of an acquisition by eBay appear to have stalled.
Purse.io, which allows people to buy and sell goods using bitcoin, said in a blog post that it is shutting down operations on Feb. 1.
"We wanted to give everyone plenty of notice so that they could plan their transition," the blog post reads.
Purse.io said that it is working on winding down its operations and will provide more details in the coming weeks.
The shutdown comes as reports surfaced earlier this week that eBay was in discussions to acquire the startup. However, a deal has not yet been finalized, according to a source close to the situation.
Ebay did not immediately respond to a request for comment.
Launched in 2014, purse.io raised $1.5 million in a series A round of funding from Andreessen Horowitz, Omidyar Network, and others.
Purse.io Looking for Buyer as Shutdown Looms
Purse.io, a San Francisco-based startup that allows users to buy and sell goods and services using bitcoin, is reportedly looking for a buyer as its impending shutdown looms.
The company has not yet commented on the rumors.
Purse.io is one of the more well-known startups to use bitcoin in its business model. The company allows users to buy and sell goods and services using bitcoin.
Purse.io has been struggling to keep up with the demands of its users and has been struggling to find a buyer for the past few months. It is unclear what will happen to the company once it shuts down.
Potential Buyer Emerges for Purse.io As It Prepares to Close
As Purse.io prepares to close its public offering, a potential buyer has emerged. Sources tell Forbes that Amazon is interested in acquiring the e-commerce platform.
Purse.io has been in talks with Amazon for months, but no deal has been finalized. The e-commerce giant is looking to bolster its online shopping division and Purse.io could provide a valuable platform for customers to purchase items from third-party sellers.
Purse.io was founded in 2014 by Brian Armstrong and Michael Arrington. The company has raised $34 million in venture capital.
Bitcoin Startup Purse.io in Talks of Being Acquired After Announcing Shutdown
Purse.io, a startup that allows users to buy and sell goods and services using bitcoin, is in talks of being acquired, the company announced on Friday.
Purse.io, which was founded in 2013, said it is exploring a number of options for its future, including a possible acquisition. In a blog post, the company said it has been working on a number of new features that it plans to launch in the next few months.
“We’ve been hard at work on some really exciting new features that we think our users will love, and we’re just getting started,” the post said. “We hope to have all these features ready by the time we go out of business.”
Purse.io said it has raised more than $5 million from investors, including Andreessen Horowitz, Union Square Ventures, and AngelList.
Bitcoin Service Provider Purse.io Nearing Its End After Acquisition Negotiations Begin
Purse.io, a bitcoin service provider, is nearing its end after negotiations to be acquired by Coinbase began, the company said in a blog post Thursday.
"After months of negotiations, we've come to the conclusion that a Coinbase acquisition would be the best path forward for our company," wrote Purse.io CEO Andrew Lee.
Lee wrote that talks with Coinbase began in early August and "ended abruptly" on Sept. 6, but he declined to provide further details.
Purse.io allows users to buy and sell digital currencies, as well as store them in wallets. The company has raised $21 million from investors including Andreessen Horowitz, Union Square Ventures, and Peter Thiel's Founders Fund.
Will Purse.io Find New Ownership Before Closing?
It is possible that the company may find new ownership before closing, but this is not confirmed at this time.