The material Bloomberg about how the collapse of the cryptocurrency market is reflected in startups, it is noted that Sirin Labs intends to abandon the development of hardware solutions and focus on software for smartphones.
“Sirin Labs, for example, raised $158 million last year to create a smartphone that allows you to use bitcoin and to trade it. The company, which in December put the first batch of thousands of phones currently considering full withdrawal from the “iron” and refocus on delivery of the software to other smartphone manufacturers”, — quotes Bloomberg words of CEO and co-founder of a startup Moshe Hovega.
Also the head Sirin Labs said that the company left money for 6-12 months of operating activities.
‘Ambitious’ plans for a startup could not leave indifferent representatives of the crypto community. So, an analyst at The Block, Larry Cermak thinking about how much Sirin Labs spent money on partnership with Lionel Messi and purchase a Lamborghini.
Sirin Labs raised $158 million in an ICO last year. Today their CEO said that they have enough funds for 6-12 months and that they are pivoting from smarphones to software. How much did they spend for the partnership with Lionel Messi? How much on lambos? Crazy pic.twitter.com/oxGAXAkhXy
— Larry Cermak (@lawmaster) 8 grudnia 2018 R.
Recall cryptocanthon Finney Israeli startup Sirin Labs presented in the early fall.
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