Latest news with #DanKang
Yahoo
7 days ago
- Business
- Yahoo
Solana Treasury Company DeFi Dev Corp Buys the SOL Dip, Stacks Another $18 Million
Publicly traded real estate software firm DeFi Development Corp. bolstered its Solana treasury with more than 110,000 SOL valued around $18.4 million, the firm announced on Monday. The latest purchase brings its total Solana holdings to 1,293,562 or more than $215 million at today's Solana prices. 'We're focused on growing SOL per share as quickly and efficiently as possible,' DeFi Development Corp. Head of Investor Relations Dan Kang told Decrypt. 'Market conditions appeared favorable, and we saw an opportunity to make a meaningful, accretive addition to the treasury.' The purchase was funded via a combination of cash on hand and proceeds from its previously established $5 billion equity line of credit (ELOC), according to Kang. During the last month, DFDV reports it has raised its key metric–Solana per share (SPS)–by 47% to 0.0618 SPS. The metric, which compares the growth of the firm's treasury to the shares outstanding, was first popularized by Michael Saylor and his Bitcoin treasury firm Strategy, which reports on a similar metric called BTC Yield. The firm has a goal of hitting 0.165 SPS by June 2026 and 1.0 SPS–meaning it would hold 1 SOL for every outstanding share of DFDV–by December 2028. The Boca Raton-based firm began purchasing Solana earlier this year after establishing a crypto treasury strategy in early April. It later changed its name from Janover to DeFi Development Corporation to better align with its new crypto focus. Since that time, it's gone on to acquire a Solana validator business and raise a $5 billion equity line of credit (ELOC) to fuel future Solana purchases. Crypto Company Bullish to Raise Up to $629M in IPO 'We're focused on evolving beyond the MicroStrategy playbook. That includes growing our validator business, DeFi integrations, and working on our Treasury Accelerator — all designed to help us accumulate and compound SOL per share over time,' Kang said. Shares of DFDV are up 9.59% today to $15.38, yet remain down around 33% in the last month of trading. Nevertheless, the firm's crypto strategy has led shareholders to greater than 2,000% gains since the year began. Meanwhile, Solana has jumped 2.3% in the last 24 hours, but has retraced 10.7% over the last week to $165.46.
Yahoo
30-06-2025
- Business
- Yahoo
Tiny AI ERP startup Campfire is winning so many startups from NetSuite, Accel led a $35M Series A
AI-powered accounting startup Campfire announced Monday that it has raised a $35 million Series A led by Accel, with participation from Foundation Capital, Y Combinator, Capital49, and angel investors including Mercury's CFO Dan Kang. 'Within nine months of formation, we had customers [with] north of 100 employees ripping out NetSuite and putting in Campfire,' founder CEO John Glasgow said. Some of Campfire's customers that have migrated from NetSuite include wealth management platform Advisor360, construction software startup Rhumbix, and customer experience company Fooji, Campfire says. This was, in part, because Glasgow attended YC in the summer of 2023, despite being decidedly more experienced than the typical 20-something YC founder. He described the age difference with a funny story: During a YC bingo event, 'One of the bingos was 'find someone that's a parent,' and I was the hot commodity at YC bingo.' Glasgow already had a decade and a half career in finance working for Fidelity, Union Square Advisors, and others. When his manager from Adobe left to run an Accel-backed startup called Invoice2go, he took Glasgow with him. Less than a year later, in the fall of 2021, bought Invoice2go for about $625 million. Glasgow wound up with both the cash and an idea to build his own startup, one that would automate the drudgery in finance like reconciling payments on bills, revenue forecasts, and — the part he discovered during the Invoice2go deal — due diligence for M&A. He launched Campfire in 2023 to upend 1990s-era enterprise resource planning accounting software (ERP) like Netsuite with an LLM-powered alternative. Campfire does things like automatically itemize and reconcile AWS cloud computing bills. It generates detailed cash flow analysis, charts, and answers to questions from natural-language prompts. 'One of our customers went from a 15-day to a three-day close when they ripped out NetSuite and put in Campfire,' he says about the time to finalize the books each month. YC's famed access to other cohort alums helped him land tech startups as customers, like Sierra AI and Replo. He has since not only landed unicorn fintech startup Mercury as a customer, but its CFO invested. While Campfire is just a gnat in terms of its impact on Oracle's billion-dollar (and growing) NetSuite business, the startup gained enough customers to prove its competitive plausibility. At its seed stage, Campfire grew to around 100 customers and is now up to 12 employees including, Glasgow said, one global customer on track to do a $250 million ARR. 'I was surprised that there were businesses of this size that were trusting their whole ERP to a 10-person, seed-stage project,' Accel's John Locke, who had backed Invoice2Go, told TechCrunch of what had enticed him with Campfire. Locke typically invests at the growth stage. But given that kind of 'traction out of the gates' and a total ERP software market of $56 billion in 2024, according to some market research reports, Locke was in to lead the A. And he was in big. '[The] AI ERP business is massive, and we think John is really the right person to do it. So why don't we do a $30 [million] to $35 million series A, and really go for it?' he told Glasgow and his partners. So they did. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
30-06-2025
- Business
- TechCrunch
Tiny AI ERP startup Campfire is winning so many startups from NetSuite, Accel led a $35M Series A
AI-powered accounting startup Campfire announced Monday that it has raised a $35 million Series A led by Accel, with participation from Foundation Capital, Y Combinator, Capital49, and angel investors including Mercury's CFO Dan Kang. 'Within nine months of formation, we had customers [with] north of 100 employees ripping out NetSuite and putting in Campfire,' founder CEO John Glasgow said. Some of Campfire's customers that have migrated from NetSuite include wealth management platform Advisor360, construction software startup Rhumbix, and customer experience company Fooji, Campfire says. This was, in part, because Glasgow attended YC in the summer of 2023, despite being decidedly more experienced than the typical 20-something YC founder. He described the age difference with a funny story: During a YC bingo event, 'One of the bingos was 'find someone that's a parent,' and I was the hot commodity at YC bingo.' Glasgow already had a decade and a half career in finance working for Fidelity, Union Square Advisors, and others. When his manager from Adobe left to run an Accel-backed startup called Invoice2go, he took Glasgow with him. Less than a year later, in the fall of 2021, bought Invoice2go for about $625 million. Glasgow wound up with both the cash and an idea to build his own startup, one that would automate the drudgery in finance like reconciling payments on bills, revenue forecasts, and — the part he discovered during the Invoice2go deal — due diligence for M&A. He launched Campfire in 2023 to upend 1990s-era enterprise resource planning accounting software (ERP) like Netsuite with an LLM-powered alternative. Campfire does things like automatically itemize and reconcile AWS cloud computing bills. It generates detailed cash flow analysis, charts, and answers to questions from natural-language prompts. Techcrunch event Save $450 on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW 'One of our customers went from a 15-day to a three-day close when they ripped out NetSuite and put in Campfire,' he says about the time to finalize the books each month. YC's famed access to other cohort alums helped him land tech startups as customers, like Sierra AI and Replo. He has since not only landed unicorn fintech startup Mercury as a customer, but its CFO invested. While Campfire is just a gnat in terms of its impact on Oracle's billion-dollar (and growing) NetSuite business, the startup gained enough customers to prove its competitive plausibility. At its seed stage, Campfire grew to around 100 customers and is now up to 12 employees including, Glasgow said, one global customer on track to do a $250 million ARR. 'I was surprised that there were businesses of this size that were trusting their whole ERP to a 10-person, seed-stage project,' Accel's John Locke, who had backed Invoice2Go, told TechCrunch of what had enticed him with Campfire. Locke typically invests at the growth stage. But given that kind of 'traction out of the gates' and a total ERP software market of $56 billion in 2024, according to some market research reports, Locke was in to lead the A. And he was in big. '[The] AI ERP business is massive, and we think John is really the right person to do it. So why don't we do a $30 [million] to $35 million series A, and really go for it?' he told Glasgow and his partners. So they did.
Globe and Mail
02-06-2025
- Business
- Globe and Mail
DeFi Development Corp. to Speak at Maxim Group's 2025 Virtual TMT Conference
BOCA RATON, FL, June 02, 2025 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) (the 'Company') the first US-listed public company with a treasury strategy built to accumulate and compound Solana ('SOL'), today announced that Head of Investor Relations Dan Kang will be speaking at Maxim Group's 2025 Virtual Tech Conference on Thursday, June 5, 2025, at 10:00 a.m. Eastern Time. To attend the event, register at: For more information, visit To stay up-to-date with the latest developments and insights, subscribe to our blog. About DeFi Development Corp. DeFi Development Corp. (Nasdaq: DFDV) has adopted a treasury policy under which the principal holding in its treasury reserve is allocated to Solana (SOL). Through this strategy, the Company provides investors with direct economic exposure to SOL, while also actively participating in the growth of the Solana ecosystem. In addition to holding and staking SOL, DeFi Development Corp. operates its own validator infrastructure, generating staking rewards and fees from delegated stake. The Company is also engaged across decentralized finance (DeFi) opportunities and continues to explore innovative ways to support and benefit from Solana's expanding application layer. We are an AI-powered online platform that connects the commercial real estate industry by providing data and software subscriptions as well as value-add services to multifamily and commercial property professionals as we connect the increasingly complex ecosystem that stakeholders have to manage. We currently serve more than one million web users annually, including multifamily and commercial property owners and developers applying for billions of dollars of debt financing per year, professional service providers, and thousands of multifamily and commercial property lenders including more than 10% of the banks in America, credit unions, real estate investment trusts ('REITs'), debt funds, Fannie Mae® and Freddie Mac® multifamily lenders, FHA multifamily lenders, commercial mortgage-backed securities ('CMBS') lenders, Small Business Administration ('SBA') lenders, and more. Our data and software offerings are generally offered on a subscription basis as software as a service ('SaaS'). Forward-Looking Statements This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," strategy," "future," "likely," "may,", "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations, and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) fluctuations in the market price of SOL and any associated impairment charges that the Company may incur as a result of a decrease in the market price of SOL below the value at which the Company's SOL are carried on its balance sheet; (ii) volatility in our stock price, including due to future issuances of common stock and securities convertible into common stock; (iii) the effect of and uncertainties related the ongoing volatility in interest rates; (iv) our ability to achieve and maintain profitability in the future; (v) the impact on our business of the regulatory environment and complexities with compliance related to such environment including changes in securities laws or other laws or regulations; (vi) changes in the accounting treatment relating to the Company's SOL holdings; (vii) our ability to respond to general economic conditions; (vii) our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; (ix) our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth and (x) other risks and uncertainties more fully in the section captioned 'Risk Factors' in the Company's most recent Annual Report on Form 10-K and other reports we file with the SEC. As a result of these matters, changes in facts, assumptions not being realized, or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Yahoo
13-05-2025
- Business
- Yahoo
DeFi Development Corp. to Host X Spaces Event: 'Fireside Chat with John Han (CFO), DK (Head of IR), and Pete Humiston (Head of Research and Content)'
BOCA RATON, FL, May 13, 2025 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) ('DeFi Dev Corp' or the 'Company') today announced that it will host a live X Spaces conversation on Wednesday, May 14, 2025, at 1:30 p.m. Eastern Time, featuring members of its senior leadership team. The discussion will include: John Han, Chief Financial Officer Dan Kang, Head of Investor Relations Pete Humiston, Head of Research and Content Parker White, Chief Operating Officer and Chief Investment Officer The conversation will focus on the backgrounds of Defi Dev Corp's new team members, their journeys into crypto, and recent news in the crypto treasury space. Join the conversation: The Company does not intend to disclose any material nonpublic information during the event. About DeFi Development Corp. DeFi Development Corp. (Nasdaq: DFDV) has adopted a treasury policy under which the principal holding in its treasury reserve on the balance sheet will be allocated to Solana (SOL). In adopting its new treasury policy, the Company intends to provide investors a way to access the Solana ecosystem. The Company's treasury policy is expected to provide investors economic exposure to SOL investment. We are an AI-powered online platform that connects the commercial real estate industry by providing data and software subscriptions as well as value-add services to multifamily and commercial property professionals as we connect the increasingly complex ecosystem that stakeholders have to manage. We currently serve more than one million web users annually, including multifamily and commercial property owners and developers applying for billions of dollars of debt financing per year, professional service providers, and thousands of multifamily and commercial property lenders including more than 10% of the banks in America, credit unions, real estate investment trusts ('REITs'), debt funds, Fannie Mae® and Freddie Mac® multifamily lenders, FHA multifamily lenders, commercial mortgage-backed securities ('CMBS') lenders, Small Business Administration ('SBA') lenders, and more. Our data and software offerings are generally offered on a subscription basis as software as a service ('SaaS'). Forward-Looking Statements This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," strategy," "future," "likely," "may,", "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) fluctuations in the market price of SOL and any associated impairment charges that the Company may incur as a result of a decrease in the market price of SOL below the value at which the Company's SOL are carried on its balance sheet; (ii) the effect of and uncertainties related the ongoing volatility in interest rates; (iii) our ability to achieve and maintain profitability in the future; (iv) the impact on our business of the regulatory environment and complexities with compliance related to such environment including changes in securities laws or other laws or regulations; (v) changes in the accounting treatment relating to the Company's SOL holdings; (vi) our ability to respond to general economic conditions; (vii) our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; (viii) our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth and (ix) other risks and uncertainties more fully in the section captioned "Risk Factors" in the Company's most recent Annual Report on Form 10-K and other reports we file with the SEC. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law. Investor Contact:ir@ Media Contact:Prosek Partnerspro-ddc@
