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The privacy-centric Brave browser is reportedly looking to raise between $30 and $50 million at a valuation of $133 million through a Series A funding round, nearly two years after raising $35 million in less than a minute through an initial coin offering (ICO).
This, according to a report by CoinDesk, citing sources familiar with the matter. The firm behind the privacy-centric Brave browser and the Basic Attention Token (BAT) has also raised $4.5 million in a seed round from the Digital Currency Group, Pantera Capital, and more.
The company’s Brave Ads program has recently been rolled out, and in it users are rewarded in BAT for seeing ads, with a portion of the revenue going to websites they visit and to Brave itself. The premise of rewarding users for surging the web while protecting their privacy has made it popular
— CryptoGlobe (@CryptoGlobeInfo) March 6, 2019
Currently, Brave’s ads appear to those who opt-in as pop-ups, and aren’t yet available to users in every country and will be rolled out in the near future to the rest of the world. Per Eich, users can earn as much as $5 per month worth of BAT using the browser.
Tokens the users earn are by default distributed to websites they visit, according to time spent on them. Users may, however, chose to tip them, or to keep them until they’re able to withdraw them.
Last month Gab, a purportedly uncensored social media microblogging platform, forked the Brave browser to create a “free-speech browser” and a “free-speech marketplace and app store,” that are powered by bitcoin, instead of BAT.