ChangeTip, a startup for bitcoin micropayments is struggling to sell its assets after travel startup Airbnb acquired its engineering team for $1.25 million in April this year.
According to coindesk.com, ChangeTip has sought to sell its assets to over 60 companies who have passed on the deal. Sources familiar with the matter said that the startup had recently been close to an acquisition, however, the deal did not materialise for undisclosed reasons.
“I’ve been working to sell the remainder of the assets of ChangeTip and [its] remaining engineers, but have not yet found a suitable buyer,” said a note by the company executive to the investors.
In April, Airbnb hired a majority of employees from ChangeCoin, although the total number of employees appointed in the process was not revealed. Previously, ChangeCoin which is ChangeTip’s parent company raised a little over $4 million in three public funding rounds. Additionally, the company raised $640,000 as it had nearly run out of funds as of January 2016.
ChangeTip is a micropayment platform built by ChangeCoin, Inc., an American corporation based in San Francisco, California. Founded in 2013, it specializes in online micropayments using bitcoin. ChangeTip enables users of the digital currency to send micropayments across various social media websites as well as e-mail and text messaging.
