LINCOLN- JP Richardson discovered Bitcoin in 2011 and realized it was much too hard to use for the average person. Until Richardson met Daniel Castagnoli. In 2015, the pair created Exodus Movement, which would take a few years to takeoff. Exodus is essentially a price of software that allows users to serve digital currencies. By the end of 2017, the company passed $1 million in total revenue.

With the boom in crypto in the past few months, business has soared for Exodus. The digital wallet saw 140,000 users in January 2020 alone. Business grew from $8 million in 2019 to $21 million in 2020. Now, the company is on track to hit $100 million by the end of 2021. The wallet is free to use but includes add ons that customers can pay for. The company makes 2% on the charges and is the main source of money.

With the current wave of excitement on cryptocurrencies, Exodus filed a unique Regulation A Tier 2 offering. This means they are offering up to $75 million in stock in the company at a price of $27.42 a share. This mechanism is unique because the only way to buy a share will be through Bitcoin or Ethereal and will have to be purchased through the Exodus Wallet app. The company is ensuring everyone will be able to buy in, not just wealthy investors with early access. The shares also will not be traded on the traditional stock market.

Note: Kissel Kohout ES Associates is proud to represent Exodus before the Nebraska Unicameral!

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