DoraHacks launched a $1.07M equity crowdfunding campaign on Republic, allowing global hackers to own a piece of the organization. DoraHacks is an active global developer community. This round of fundraising is intended for their development of global developer recruiting business.
DoraHacks is one of the largest developer communities in China and one of the most active hackathon organizers worldwide. The company, launched in 2014, with over 20,000 hackathon hackers, has officially launched its equity crowdfunding campaign on the Republic platform. A first for the platform, DoraHacks is offering investors the option to invest in their company using digitized shares. In the future, these shares may be tradeable on global exchanges, providing earlier liquidity options to investors.—
The founder, Jiannan Zhang explains:
“We decided to tokenize DoraHacks preferred shares in order to provide our investors with maximum flexibility. Rather than waiting until an exit opportunity years away, investors will be able to trade out of their shares of DoraHacks on the blockchain at any time following the lock-up period. The token might also be traded on a regulated digital security exchange if we decide to do so later.”
With this new round of funding, DoraHacks is going to expand its global developer user base and build up a global developer database with incentives on blockchain, and an AI-enhanced platform to facilitate global developer recruiting.
Developer recruiting has always been a gold mine in China, the US and other countries globally. Despite having billions of dollars budgeted from the millions of companies hunting for AI, IoT and blockchain talent, there is still no good platform for developer recruiting. Companies find it difficult and inefficient to recruit developers via general recruiting platforms. DoraHacks has decided to march into the developer recruiting business after running over 100 hackathons in 8 countries and 15 cities, organizing China’s largest hackathon, ‘The 4th Industrial Revolution’ in July 2019, and acquiring companies such as BOSCH and Microsoft as clients.
Previous investors in DoraHacks include Bitmain, Tsinghua Blockchain Capital, Taiyou Fund, 8 Decimal Capital and reputable individuals.
For more information about the crowdfunding campaign, click here.
For more information about DoraHacks, click here.
About DoraHacks: Founded in 2014, DoraHacks is leveraging their community of 20,000 hackathon hackers, 300,000+ outreached developers and top partners to bridge the gap between enterprise problems and hackers globally. DoraHacks is partnered with prominent enterprises from multiple sectors, including BOSCH, Microsoft, China Mobile, Coca-Cola and Daimler AG. Furthermore, DoraHacks has partnerships with leading blockchain projects, including Binance, BCH Foundation, Bitmain, NEO, TrueChain, Huobi, and Fenbushi Capital.
About Republic: Founded in 2016, Republic operates a family of businesses, including an investment platform that provides retail investors around the world with compliant access to curated startups and blockchain projects. To date, the acceptance rate of companies applying to fundraise on Republic’s crowdfunding portal is well below 10%. Republic recently expanded beyond crowd investing with the introduction of Radar (a platform that connects founders with noted venture firms), a Republic syndicate on AngelList, and a tokenization advisory service, each as an independent business operation.
Release ID: 88908961