Nick Sullivan, CEO in addition to Founder, explained inwards his Reddit post service how the theater has been struggling to notice a feasible describe of piece of job organisation model, afterward the ChangeTip's evolution squad was acquired past times Airbnb:
“In the jump of 2016, ChangeTip’s employees were acqui-hired past times Airbnb, where nearly of us function today. Since then, we’ve been searching for the best number for ChangeTip, in addition to unfortunately the solely remaining selection is to close it down.”According to Sullivan's post, tipping on ChangeTip volition live on turned off at the destination of November, in addition to existing users volition solely live on allowed to take away funds. Alternatively, users tin laissez passer the axe opt to donate their BTC balances to several charities.
While the innovative startup kicked off amongst a $750,000 working capital missive of the alphabet infusion via a partnership betwixt Blockchain Capital & Flight.vc, inwards May of 2014, in addition to a $3.5 1000000 seed funding circular inwards Dec of 2014, which saw participation from prominent VC firms similar Pantera Capital in addition to 500 Startups, administration has been unable to notice a agency to monetize the practise of BTC tipping.
Since launching, ChangeTip has acquired to a greater extent than than 100,000 active users. Mr. Sullivan mentioned inwards his closing letter that to a greater extent than than 350,000 tips convey been sent past times its users over the final ii years.