OpenCoin Acquires SimpleHoney
OpenCoin has acquired a startup company called SimpleHoney. SimpleHoney was co-founded by Joyce Kim and Eric Nakagawa. Kim was previously CEO of Soompi.com and was the co-host of the GigaOm Show (which aired on Revision3.com). Nakagawa was the creator of the I Can Has Cheezburger blog. OpenCoin is developing an open source payment protocol known as Ripple. Kim said in a blog post that she was excited about the payments space. Kim added that Ripple is not a competitor of Bitcoin. It is a complementary service that makes it easier to convert and spend Bitcoin for any currency.
Launched in May 2012, SimpleHoney recommends hotels based on a user’s personality. The company then launched a wish list application called I Want Wish. This app is separate from the deal and will continue to operate. SimpleHoney’s four employees will be joining Ripple’s 12 person team. The financial details of the deal are not disclosed.
SimpleHoney raised a seed round of funding from Tim Young (About.me and Socialcast co-founder), Ryan Scott (Causecast founder) Jameson Hsu (Mochi Media co-founder), Bob Ippolito (Mochi Media co-founder), Ed Roman (former Middleware Company CEO), and Dave McClure (500 Startups)