Company:Aptos Labs

From HandWiki
Aptos Labs
TypePrivate
IndustryBlockchain, Cryptocurrency, Web3
Founded2021; 5 years ago (2021)
FounderAvery Ching, Mo Shaikh
HeadquartersPalo Alto, California, U.S.
WebsiteOfficial website

Aptos Labs is a blockchain technology company headquartered in Palo Alto, California, known for developing the Aptos blockchain, a Layer-1 blockchain in the Web3 space. It was founded in 2021 by Avery Ching and Mo Shaikh, former employees of Facebook. Many other former Libra employees ended up joining Aptos Labs.[1]

History

Aptos Labs was founded in 2021 following the dissolution of Meta's Diem project, an attempt by the social media company to develop a stablecoin and blockchain ecosystem.[2][3] Founded and led by Avery Ching and Mo Shaikh, who worked on Diem, leveraged their experience to create Aptos Labs.[4][5] The Aptos blockchain, which uses the Move programming language, was designed to address limitations in scalability and efficiency that exist in other blockchain technologies.[6][7]

Since its founding, Aptos Labs has secured funding from various investors.[6][8] Avery and Mo raised $400 million ($200m series seed, $200m series A), with backing from notable venture capital firms such as Andreessen Horowitz, Apollo Global Management, and Franklin Templeton.[5][9]

The company has partnered with Microsoft to explore the integration of blockchain technology with AI and data services.[10][11][12] In addition, Google Cloud has collaborated with Aptos Labs to provide infrastructure support and run a validator on the Aptos network.[13] The company has also worked with NBC Universal to create blockchain-based digital experiences.[14][15][16]

In February 2023, Aptos Labs made an equity investment in the short-video social media app Chingari.[17][18][19]

Aptos Labs is one of 11 firms selected to participate in the second phase of Hong Kong's e-HKD pilot program, an initiative led by the Hong Kong Monetary Authority (HKMA) to explore the feasibility of central bank digital currencies and tokenized deposits.[20][21] Aptos Labs along with Boston Consulting Group and Hang Seng Bank, will test the commercial value of settling a tokenized fund using digital money on a public blockchain.[22]

In October 2024, Aptos Labs has expanded into the Japanese blockchain market through the acquisition of HashPalette Inc., the developer of Palette Chain.[23][24] In November, Aptos Labs led a $10 million funding round for the decentralized gaming network KGeN, bringing the network's valuation to $500 million.[25][26]

On December 19, 2024, Mo Shaikh, stepped down from his position as CEO to “start a new chapter,” while remaining a strategic adviser. He was succeeded by Avery Ching, co‑founder and chief technology officer, who took over as CEO to lead the company into its next phase of technical innovation and ecosystem growth.[27]

References

  1. ↑ https://aptoslabs.com/team
  2. ↑ Singh, Lucas Matney, Manish (2022-03-15). "Ex-Meta employees raise $200M from a16z, Tiger, Multicoin to realize Facebook's crypto dreams" (in en-US). https://techcrunch.com/2022/03/15/aptos-labs-a16z-multicoin-facebook-diem-blockchain/. 
  3. ↑ Sraders, Anne. "Aptos Labs is aiming to give Meta’s crypto project Diem a second life—if a crypto winter and a $1 billion lawsuit against the CEO don’t get in the way" (in en). https://fortune.com/2022/07/14/aptos-labs-meta-crypto-project-diem-crypto-winter-lawsuit/. 
  4. ↑ "Aptos Labs and India’s pioneering gaming force STAN launch esports platform enabling India’s 500m gamers to engage with favorite players" (in en). https://www.indiatodaygaming.com/news/story/aptos-labs-and-indias-pioneering-gaming-force-stan-launch-esports-platform-enabling-indias-500m-gamers-to-engage-with-favorite-players-3742. 
  5. ↑ 5.0 5.1 Takahashi, Dean (2023-11-20). "Readygg partners with Aptos Labs to bring more players to Web3 games" (in en-US). https://venturebeat.com/games/readygg-partners-with-aptos-labs-to-bring-more-players-to-web3-games/. 
  6. ↑ 6.0 6.1 "Launched by Former Meta Employees, Aptos Labs Raises $150M for Diem Blockchain | Built In San Francisco" (in en). https://www.builtinsf.com/articles/aptos-labs-raises-150m-diem-blockchain-meta. 
  7. ↑ Weiss, Ben. "Microsoft partners with Aptos Labs to build A.I. tools that help banks explore blockchain integrations on Azure" (in en). https://fortune.com/crypto/2023/08/09/microsoft-aptos-labs-ai-blockchain-partnership-github-copilot-aptos-assistant-chatgpt/. 
  8. ↑ "Binance Labs Boosts Investment in Blockchain Startup Aptos" (in en). Bloomberg.com. 2022-09-15. https://www.bloomberg.com/news/articles/2022-09-15/binance-labs-adds-to-investment-in-ex-meta-blockchain-startup. 
  9. ↑ "Ex-Meta Staffers Raise $150 Million for New Crypto Venture" (in en). Bloomberg.com. 2022-07-25. https://www.bloomberg.com/news/articles/2022-07-25/ex-meta-staffers-raise-150-million-for-new-crypto-venture. 
  10. ↑ Melinek, Jacquelyn (2023-08-09). "Microsoft partners with Aptos blockchain to marry AI and web3" (in en-US). https://techcrunch.com/2023/08/09/microsoft-aptos-blockchain-ai-web3/. 
  11. ↑ "Aptos Labs collaborates with Microsoft, SK Telecom on institutional blockchain platform" (in en-US). 2024-04-18. https://siliconangle.com/2024/04/18/aptos-labs-collaborates-microsoft-sk-telecom-institutional-blockchain-platform/. 
  12. ↑ "Microsoft, Aptos Labs Partner to Unite Web3, AI: Details" (in en). 2023-08-10. https://www.gadgets360.com/cryptocurrency/news/microsoft-aptos-labs-unite-web3-artificial-intelligence-ai-blockchain-4287026. 
  13. ↑ Takahashi, Dean (2024-03-15). "Aptos Labs and Google Cloud team up to elevate Web3 experiences" (in en-US). https://venturebeat.com/games/aptos-labs-and-google-cloud-team-up-to-elevate-web3-experiences/. 
  14. ↑ Weiss, Ben. "NBCUniversal and Aptos Labs team up on Web3 game for Nicolas Cage's 'Renfield'" (in en). https://fortune.com/crypto/2023/03/24/nbcuniversal-renfield-nicolas-cage-dracula-aptos-nfts-blockchain/. 
  15. ↑ "NBCUniversal 将通过长期协议继续在 Aptos 上构建 - 深潮TechFlow". https://www.techflowpost.com/article/detail_18562.html. 
  16. ↑ "Aptos Labs: Accelerating the Future of Web3". 5 Aug 2024. https://www.nasdaq.com/videos/aptos-labs-accelerating-future-web3. 
  17. ↑ "Aptos Labs makes equity investment in Chingari social media app". 9 Feb 2023. https://www.livemint.com/companies/news/aptos-labs-makes-equity-investment-in-chingari-social-media-app-11675935175881.html. 
  18. ↑ "Aptos Labs makes equity investment in Chingari" (in en). https://www.theweek.in/news/biz-tech/2023/02/10/aptos-labs-makes-equity-investment-in-chingari.html. 
  19. ↑ "Aptos Labs makes equity investment in Chingari". The Times of India. 2023-02-09. ISSN 0971-8257. https://timesofindia.indiatimes.com/aptos-labs-makes-equity-investment-in-chingari/articleshow/97776643.cms. 
  20. ↑ "Hong Kong to explore 11 use cases in phase 2 of e-HKD pilot" (in en). 2024-09-23. https://www.scmp.com/business/banking-finance/article/3279639/hong-kongs-central-bank-explore-11-use-cases-phase-two-e-hkd-pilot. 
  21. ↑ Authority, Hong Kong Monetary. "Hong Kong Monetary Authority - Central Bank Digital Currency (CBDC)" (in en). https://www.hkma.gov.hk/eng/key-functions/international-financial-centre/fintech/central-bank-digital-currency/. 
  22. ↑ "Pilot e-HKD program entering 2nd phase" (in en). https://www.chinadailyhk.com/hk/article/593756. 
  23. ↑ Mehta, Shiv. "Aptos Labs Expands in Japan & Hong Kong: Web3 Blockchain Moves" (in en). https://www.insightlabs.com.au/p/aptos-labs-expands-in-japan-and-hong-kong. 
  24. ↑ McCall, Isaiah (2024-10-07). "Franklin Templeton Expands into Aptos Crypto: How Will This Impact APT Price?" (in en-US). https://www.ibtimes.com/franklin-templeton-expands-aptos-crypto-how-will-this-impact-apt-price-3745845. 
  25. ↑ SN, Vikas (20 November 2024). "Decentralised gamer network KGeN bags $10 mn funding led by Aptos Labs; valuation jumps to $500 mn". https://www.moneycontrol.com/news/business/startup/decentralised-gamer-network-kgen-bags-10-mn-funding-led-by-aptos-labs-valuation-jumps-to-500-mn-12871792.html. 
  26. ↑ "Web3 gaming startup Kratos Gamer Network raises fresh funds; valuation jumps to $500 million". The Economic Times. 2024-11-21. ISSN 0013-0389. https://economictimes.indiatimes.com/tech/funding/web3-gaming-startup-kratos-gamer-network-raises-10-million-valuation-jumps/articleshow/115497364.cms. 
  27. ↑ https://www.coindesk.com/business/2024/12/19/aptos-labs-ceo-mo-shaikh-quits-avery-ching-to-take-his-place



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