Sign up Australia
Proactive Investors - Run By Investors For Investors

360 Blockchain completes website acquisition deal, which will mean revenues in current quarter

"With the closing of this deal, 360 will post revenues in the current quarter,” said George Tsafalas, 360’s chief executive
360 Blockchain completes website acquisition deal, which will mean revenues in current quarter
ICORanker.com has, among others, a list of the top cryptocurrency ICOs and active Initial Coin Offerings (ICOs)

360 Blockchain Inc (CSE:CODE, OTCMKTS:BKLLF) has completed its earlier announced acquisition of the ICORanker.com and BlockchainRanker.com websites.

It bought the assets along with a suite of professional services and marketing data in a deal valued at US$1.75mln in cash and stock.

"With the closing of this deal, 360 will post revenues in the current quarter,” said George Tsafalas, 360’s chief executive.

READ: 360 Blockchain's Pressland platform names marketing partner for upcoming token sale

"By adding these cash-flowing properties to the 360-family, we are diversifying our holdings and adding a high-growth business to our growing portfolio of blockchain assets."

ICORanker.com has, among others, a list of the top cryptocurrency ICOs and active Initial Coin Offerings (ICOs).

Meanwhile, BlockchainRanker.com is a pre-revenue website that vets and rates blockchain platforms, services and software providers.

"Acquiring ICORanker is our entry to the lucrative world of token analysis, ratings and recommendations," said 360's strategic advisor Jeff Koyen.

"The token sale ecosystem has a bright future, and we’re excited to take ICORanker to the next level of profitability."

READ: 360 Blockchain shares higher as it unveils augmented reality tie-up with Membit Inc

According to a report by PricewaterhouseCoopers', token sales raised US$13.7bn in the first five months of 2018, more than doubling the total funds raised during 2017.

ICOs are past the "hype cycle," PwC said, and "are becoming more mature and established".

360 Blockchain Inc will pay US$1.5mln in cash to fully acquire ICORanker.com and BlockchainRanker.com, as well as a comprehensive marketing program, consultancy and marketing databases from Technology Development Partners, a high-tech M&A advisory firm.

ICORanker’s current owners will also receive US$250,000 worth of restricted shares in 360’s stock, based on the five-day trading average at closing.

Shares added 7.69% to C$0.07 in Toronto.

Join our Crypto, Blockchain and Cannabis Telegram group here
View full CODE profile View Profile

360 Blockchain Inc Timeline

Related Articles

Russia picture
June 04 2018
The bulk of overall exposure is in credit and government bonds followed closely by equities
different currencies
January 11 2018
The decision to complement its retail offering with a corporate service is quite literally paying off
wedding bands in gold
September 06 2017
Coinsilium's Terrastream platform could reshape the landscape of junior mining funding

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use