For StormX co-founder Simon Yu, the road to success couldn’t have been thornier. Things got notably worse after his family was left with no choice but to declare bankruptcy. Yu was in college back then and with no source of substantial income.
Food Trucks to Crytpo
Desperate to break free of the financial mess, Yu took a $100 loan to start his catering service out of his apartment. His customers mostly included other college students living in the vicinity.
Yu didn’t take too long to turn that modest $100 investment into a $1 million food truck business. It was his first venture as an entrepreneur, and as we know today, it was only the beginning.
The Korean-American from Seattle soon set his eyes on the rapidly evolving blockchaintechnology. He teamed up with software developer Calvin Hsieh to form CakeCodes, the company behind the globally popular BitMaker platform.
For the uninitiated, Bitmaker is an app designed to reward users with crypto coins such as bitcoin and ethereum for trying out new products. For example, the company had a partnership with ride-hailing app Uber under which it rewarded the two cryptocurrencies to users who tried out the Uber app for the first time. As of today, BitMaker has more than 300,000 users across the world.
Buoyed by the success of BitMaker, Yu and Heish went on to form another company: StormX. The duo also made some changes to BitMaker and rebranded it as a new company called Storm Play.
StormX is a blockchain company that aims to provide a reliable payment platform for employers who use the services of freelancers. The new firm raised a whopping $32 million through an Initial Coin Offering (initial coin offering) of its homegrown cryptocurrency called Storm Token. They then launched in December 2017; Storm Taken is the coin employers on the platform can use to pay freelancers…