Status Invests $5M In Riot.im
Our first of many big steps for 2018 — we’re committed to decentralization and open source communities
Today, we’re thrilled to announce our investment in Riot.im and Matrix.org. Riot.im is the powerful decentralized collaboration tool built on the Matrix protocol. This marks the first major external investment as part of our aggressive 2018 growth and expansion plans.
“Our investment in Riot.im and Matrix will ensure the continued development of decentralized communications protocols, and presents some really interesting opportunities for Status in the future.” said Jarrad Hope, our Co-Founder.
“The funding is absolutely key to us now,” said Amandine Le Pape, head of operations and product for Riot.im. “It gives us the freedom to expand our team, and continue improving Riot.im and Matrix in an open source environment. Most importantly, Status shares our vision for a world of decentralized, open source apps that make it easier to get things done.”
Collaboration should be collaborative
Tools like Slack have seen immense popularity. Rightly so. Collaboration tools offer the promise of effectively bringing working groups together. To improve communication. To improve the work. But the proliferation of tools — like Slack — have often challenged workgroups, especially across teams using multiple tools. Proprietary. Prone to hacks and downtime. These issues can frustrate collaborative efforts. In a fragmented landscape, Matrix brings it all together.
Built on the Matrix open protocol, Riot.im bridges users to any Matrix-bridged apps (such as IRC and Slack) and any Matrix-compliant clients. With its decentralized architecture and end-to-end encryption, Riot.im makes collaboration truly global, open, and trusted.
Furthermore, the collaboration between Status and Matrix is expected to:
- Utilize the Status Network token within Riot.im by enabling crypto assets
- Create a bridge between Matrix and Whisper (Ethereum’s own real-time communication protocol)
- Integrate Status DApps as widgets within Riot.im
- Support Status in encryption algorithms and protocol development
It all starts with open source
We believe in the promise of the decentralized Web. And we believe we’ll get there in better shape by supporting projects driven by the open source community, instead of proprietary software and the traditional Venture Capital mindset. Our investment in Riot.im represents our commitment to open source projects and the communities that drive them.
With the investment in Riot.im and Matrix — and other exciting 2018 initiatives — we will accelerate the development of strategic protocols like Matrix that contribute to our vision. Why? Because we believe thoughtful, well-planned open source projects are the lifeblood of our industry and essential to the health of our thriving community.
To stay up to date on everything Status, join our Riot Channel
For early access to the Alpha — sign up on Status.im
