Cryptonary has acquired the shares of its previous co-founders, who became silent partners when the firm rebranded in 2019. The valuation and specifics of the buyout have not been disclosed, but this event marks a significant milestone.
In this article, the Cryptonary team answers some of the most frequently asked questions about the buyout and Cryptonary’s vision, as well as what you can expect.
Why did Cryptonary decide to buy out its shareholders?
The buyout will help achieve full control, introduce staff benefits, provide more robust expansion options and contribute to going from a good to a great company.
In what ways will the buyout benefit the company in the long run?
When a company like Cryptonary grows so fast (152x over the past 24 months), it quickly becomes apparent that people have different visions for what they want for the business.
The recent shareholder buyout will increase team confidence and allow for a more straightforward path to building out the Cryptonary vision of helping to onboard 1 billion users into crypto.
Is Cryptonary profitable right now, and what are the long-term prospects?
The company is on track for its third profitable year and has been the target of buyout talks on multiple occasions.
A large percentage of the staff team are young and successful; they’re excited about where the company is ten years from now.
What you need to know about Cryptonary
Cryptonary is a cryptocurrency-focused media firm that provides in-house crypto research, news and podcasts, and educational videos to help consumers comprehend the cryptocurrency market. The company generates revenue by charging a monthly fee for access to its research, and according to Asad Saddique, the company is on track for its third profitable year.
“Crypto is very complex, and it’s coming to replace the boring boomer TradFi system. Our goal is to help advance this industry forward; we can only do that when the entire team is aligned.” Karim Abuzeineh, Co-Founder.
Surprisingly, the firm began as an Instagram page in 2017. Nonetheless, with a rebrand in 2019, it became a more serious media organization that flourished enormously due to the 2021 crypto boom. Its workforce has expanded from three to forty-five employees, and the firm currently has its live events and NFT project on the Solana blockchain, with plans to launch its app in the second quarter of 2022