Stock trading platform public I bought it OtisA startup that allows individual investors to purchase some of the ownership of alternative assets such as NFTs and sports souvenirs.
According to Crunchbase data, Otis has raised $ 16.5 million from investors, including: but the terms of the deal have not been disclosed. Maveron When Union Square Ventures..
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The New York-based public (despite its name, still a private company) itself has raised at least $ 308 million from venture investors. This purchase builds a platform and gives Public’s approximately 3 million users the opportunity to diversify their investment portfolio. Co-CEO Reef Abraham Written in Blog post Announce the transaction.
“We believe that today’s diverse portfolio is made up of cultural properties as well as stocks, funds and cryptocurrencies,” he writes.
Public was founded in 2019 as a platform for partial investment in equities, Robin hood Other trading apps that have become extremely popular with individual investors in recent years.
Last year, the public added crypto investment. The acquisition of Otis gives public users another option to diversify their portfolio, Abraham said.
“Historically, the opportunity to diversify in alternative investments has been limited to a small pool of investors. They are often exclusive, in addition to ordering price tags that are out of reach of the average investor. I’m trapped behind my art gallery and connections with other collectors, “he writes. “Turning these physical assets into partially investable securities unlocked the big locks of the last few years and, in turn, created a whole new asset class for people to consider.”
Examples of assets purchased by users on the New York-based Otis platform include ownership of some of Banksy’s paintings, a pair of sneakers worn by Michael Jordan, and Lebron James When Serena WilliamsHe said.
Illustration: Dom Guzman
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