Serial entrepreneur Ben Leventhal is at it again. Although macroeconomic conditions are quite poor, the latter managed to raise $11 million during a funding round for its new Web3 hosting platform. What is it and what should we expect?
Blackbird, Ben Leventhal’s new project
The crypto market continues to stutter, and meanwhile investors are pooling projects. After co-founding two companies in the restaurant sector, Leventhal is back with a new project, Web3. In fact, the entrepreneur previously headed Resy, the restaurant discovery platform, and food publication Eater.
However, in 2013, Vox acquired Eater and Resy became the property of American Express in 2019. This time, Ben Leventhal was dedicated to launching and setting up Blackbird, a Web3 platform focused on creating a direct connection between the restaurant and its customers. This is thanks to loyalty and membership services.
This idea came to him from the fact that we are seeing more and more disconnection between restaurants and their consumers. Because of this, Blackbird aims to bring technology to restaurants to help them mine cryptocurrencies in exciting ways. The main goal, of course, is to improve the restaurant business as a whole.
Reliable partners in a volatile sector
Blackbird’s rally started in a bear market, at the end of a bull market. Ultimately, the funding round was oversubscribed. However, Ben Leventhal is convinced that they could have raised much more money. However, given the overall landscape and macroeconomic environment, the developer chose conservation over enhancement.
To succeed in this fundraising effort, he surrounded himself with several key partners. In particular Shine Capital, Union Square Ventures and Multicoin Capital. So it’s been pretty much smooth sailing since Blackbird’s $11 million raise is above the average first-round check size in August.
Indeed, blockchain venture capital funding has declined sharply for five consecutive months in terms of dollars and transaction amounts.
Despite the ups and downs the cryptocurrency and blockchain sector is currently going through, Ben Leventhal remains confident in the strength of his Web3 platform. According to his statements, they will crawl before they pass. Additionally, there is a high probability that a viable product from Blackbird will be delivered in the first half of 2023.
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The world is changing and adaptation is the best weapon for survival in this turbulent universe. As a crypto community manager at heart, I am interested in everything directly or indirectly related to the blockchain and its derivatives. To share my experience and make known a field that fascinates me, nothing better than writing informative and relaxed articles at the same time.