Email and file encryption service Virtru raises $29 million

According to the article it can run on top of existing services and is designed for user-friendliness.

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Nice, but my first reaction is: If this halfbaked patchwork product line can raise $29M, I have good hopes that MaidSafe can raise 10% of that. :slight_smile:

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Seems a few of the big VC’s like it. Series A and its tuff times for tech in the VC world right now. These guys have proven their product to work in the wild. Maidsafe has no such beast and no timeline for anything. I hope MS can do well on its raise but am expecting little. Not even 10 points.

Will we see 29M? More than that after successful MS launch…10 x more.

Quick look, I couldn’t make out whether its open source or not…

https://www.virtru.com/blog/virtrus-open-source-strategy/

TL:DR: Bits of it are (Apache-licenced) and their stated goal is to make it all open source.

My hopes are there are enough new and curious investors on that bank to the future platform that will see MaidSafe as what they are. A focused, honest, highly skilled and experienced developer team that is about to release the demon. After it’s release, an experienced team ready to release top notch apps (if I remember well, there’s some stuff on the shelves already? Don’t know…) on the network is ready to rock ‘n’ roll.

Sure it’s all promises, but look where Tesla is going… I’ve seen crazier things, I mean.

The SAFE alpha client was good PR. Then there will be an alpha vault (ditto). And then a beta client and then a beta vault, and finally, release versions. Each raising the pitch of excitement a little, and then a little more, until the final, uh, climax, when the champagne can be opened. :slight_smile:

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We know what MS is made of and have complete confidence this will eventually pay off. That is a sentiment that may not be shared by any VC’s as this is not a Seed Round nor could it be even classified as a Series A as there are already investors from a decade ago.

Do not consider these critical remarks about MS potential. Im just keepin it real and so should you.

Expect little, be surprised.

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It will be quite hard for any serious investors to do the math and work out the usual stuff that makes them comfortable enough to throw huge money in the pot. Think dragon’s den and the first questions they all want answered.

I think maidsafe is an amazing company behind an amazing technology, but from a cynical and cautious perspective (as most big money is) it is a high risk proposition to invest in an app building company with no robust tech yet running wild for it to build on.

Patents are a great thing for investors to throw money at, but the maidsafe charity holds them (as far as I know?).

As BIGbtc says, probably sensible to keep expectations modest here, this is nothing like the original crowdsale (only BtF registered users can invest, app building for unknown apps on untested network, users in the know are already invested etc). I’d be very happy to be wrong though, it would be brilliant to see that target hit really quickly!

What we need is for one or two whales who do not yet know about safenetwork to learn about it and get interested through the BtF pitch. If that happens then it could be great news for the ecosystem.

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One potential problem with services like this is they are vulnerable if governments suddenly decide to crack down on encrypted services, which is not inconceivable given the recent criticism by several governments of encrypted social apps like Telegram and the push to ban them altogether.

Apparently there are cartels peddling exploits to world governments that allow them to full access to people’s phones.