Dynamo
@0xdynamo
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Farcaster, a decentralized social media protocol, has secured significant funding to support its development. It has raised a total of $180 million across two rounds. The first was a $30 million seed round in July 2022, led by a16z crypto, with participation from investors like Coinbase Ventures, Standard Crypto, and others.
The second, a $150 million Series A round announced on May 21, 2024, was led by Paradigm, with a16z crypto, Haun Ventures, Union Square Ventures, Variant, and Standard Crypto also joining. This later round reportedly valued the company at around $1 billion.
The funds are intended to help grow its user base and enhance developer tools, building on the momentum from features like Frames, launched in January 2024, which boosted user engagement. 1 reply
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