ONO Announces $16 Million in Series A Funding From Traditional, Blockchain VC Fu

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With 280,000 users in just two months, ONO announces its Series A funding from top blockchain and cryptocurrency VCs including, INBlockchain, China Growth Capital, Purple Cow Fund, KIP, Green Pine Capital Partners, and Grand Shores.

On June 8, 2018, ONO, creator of the first decentralized social network, announced $16 Million in Series A funding from prominent investors including INBlockchain, investors in Ethereum, China Growth Capital, Purple Cow Fund, a fund run by Sheng Fu (founder and CEO of Cheetah Mobile), Green Pine Capital Partners, Korea Investment Partners, and Grand Shores.

As the first decentralized social network with global ambitions, ONO was launched in April 2018 by 23-year-old Ke Xu, who founded CryptoDogs, the Chinese equivalent of CryptoKitties, and ERA, a 10 million strong social network sold last year to Cheetah Mobile for $30 Million.

As a Gen X’er herself, and following her successes in developing successful blockchain and social networking products, Ke has developed ONO to
be rooted in a much-needed solution for a social networking platform that prioritizes its user’s ownership over their own data and content. By leveraging the use of blockchain technology, ONO challenges the traditional social networking model, which non-transparently monetize its user’s data.

Filling in the gap, ONO arrives at a time when major social networks are plagued by privacy scandals, moving governments to enact newer and stricter measures to safeguard one’s privacy.

On the basis of offering a platform designed for its users’ best interests and their peace of mind, ONO to date has garnered the support of 280,000 beta users in the first two months of ONO’s launch, with a 65 percent retention rate.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/ono-announces-funding-from-traditional-blockchain-vc-funds/