Swarm (or SwarmFund or SwarmCorp) was, and may still be, a startup, based in Silicon Valley, that seeks to use blockchains for crowdfunding. We’ve seen various different similar models and it’s a good idea that has yet to come to fruition anywhere. Certainly someone will crack it.
Typically the model is that you either create a new crypto coin or use coloured bitcoins - the company offering equity can view the coins like traditional shares and/or promise crypto dividends or just allow them to appreciate as the value of the company grows. There are different models but they all employ the same leitmotif and Swarm seemed like a
What perked our interest here is that Swarm’s website is down and has been for a while - different links lead to different sites but as of the date of publishing both swarm.fund and swarm.co were down, and their most recent archives were on 4/11/2015 and 17/10/2015 respectively. Swarm.co is linked from crunchbase and swarm.fund is from the company's twitter account, AngelList, and Bloomberg and then swarmcorp.com is linked from their dead subreddit. If you’re only half as confused as we are then you’re doing well.
Combine this with an article on Coindesk in April that the company was ‘pivoting’ makes me a little suspicious. The company's subreddit hasn’t been active for four months but their twitter account is up and was commenting on DevCon1, held just last week. All this is on top of the fact that the link on the Company's active Twitter now redirects to a page about swarmbots which appears to be a system for allowing people to offer and pay bounties on the messaging app Slack.
Usually this wouldn’t be surprising but they have received about $1,000,000 from some serious investors and so it doesn’t make sense that they would just drop off the map like this without a statement or some controversy.
Joel Dietz, listed as a founder and CEO by Bloomberg, states on his Linkedin page that he is a ‘catalyser’ for Swarm and is the CEO of a stealth startup as of six months ago. Jef Cavens, listed by Bloomberg as a co-founder, says that he ended his work at Swarm in February 2015 and Ben Ingram, COO, simply lists it as ‘previous’. Announcements on the official bitcointalk thread ended September 26th.
I don’t think anything critical can be drawn from what I’ve offered here but it is certainly interesting. Swarm was/is not a small company and it would be a shame to see them shuffle off this mortal coil like this. We also really liked their idea!
If anyone has any other information please get in touch.