Is Bitcoin Wallet Airbitz Scraping By?

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One of the most active companies in the space – sponsoring events, parties, and conferences – Airbitz has sought to put San Diego on the map for tech startups. But, could the firm be treading water?  CEO Paul Puey posted yesterday in a Facebook group called “San Diego Tech Scene”  stating:

Hi all. Looking for desk space for your startup? We have some desks to rent out at our office in downtown on 4th and K st. Awesome location with a shared rooftop deck. Pet-friendly and close to all public transportation. Only $300 / month with free Wifi, electricity, and coffee. Send me a message if interested.

The price isn’t that bad, depending on your coffee habit.

What’s suspect of the post is that it did not appear in San Diego’s Facebook Bitcoin group, which is used generally by various members of the Airbitz team to announce Meetup’s at their office, as well as announce Airbitz news. That the post did not appear there might suggest the Airbitz team decided against informing the Bitcoin community that it was seeking someone to rent their space. 

puey

The company raised $450,000 from Block26, and has been located in two spots in San Diego’s Mid-City and Downtown areas.

The company provides a Bitcoin wallet and boasts what they call “edge security.” Like many Bitcoin wallets, the company highlights its focus on usability. A CoinDesk article stated the company was targeting “novices” and “evangelists” in the Bitcoin space. The company is also known for its Bitcoin directory.

The wallet provider was founded by Paul Puey, Scott Morgan, Tim Hortoin, William Swanson and Damian Cutillo. Before receiving the $450,000 from Block26, they received $25,000 from Plug N Play Tech Center and joined that firm’s accelerator program.

Airbitz CEO, Paul Puey, speaks at industry events. He has spoken in New Zealand, San Francisco, Denver, LA and Australia. He advocates “for a decentralized future of Bitcoin.”

An Airbitz wallet was the first to send a Bitcoin transaction to Cuba. Airbitz claims to have invested the use of Bluetooth low energy (BLE) for Bitcoin transactions. They also claim to have invented one-touch 2-factor authentication.

The firm moved from its larger Mid-City location in the popular North Park neighborhood to the smaller downtown location earlier this year.

The company did not reply to requests for comment at the time of publication.

Featured image of San Diego from Shutterstock.

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