The FCF Formula = Cash from Operations - Capital Expenditures. FCF represents the amount of cash flow generated by a business after deducting CapEx

Free Cash Flow (FCF) Formula

In financial accounting, free cash flow (FCF) or free cash flow to firm (FCFF) is the amount by which a business&#x27;s operating cash flow exceeds its working capital needs and expenditures on fixed assets (known as capital expenditures). It is that portion of cash flow that can be extracted from ...

Free cash flow - Wikipedia

Stoops, who has been at Kentucky since 2013, signed a mammoth contract extension in November that effectively gave him a 33% raise, bumping his pay up to $9 million annually. Calipari, who is the ...

Why college football is king in coaching pay − even at blue blood basketball schools

Kamlesh Kumar Sharma has joined TVS Motor as the Global Head of Communications. Prior to this, he was with Hindustan Coca-Cola Beverages for over 5 years. He was the Chief Public Affairs, Communications and Sustainability (PACS) Officer from October 2020 to December 2022.

Kamlesh Kumar Sharma joins TVS Motor as Global Head of Communications

The RBI’s in-principle authorisation will enable Zaakpay to onboard new merchants onto its platform for processing of online

Mobikwik's Zaakpay gets RBI's in-principle nod to operate as payment aggregator

Escrowpay has signed an agreement to raise an additional $4 Mn via issuance of warrants, taking its total fund raise till date to $6 Mn.

Escrowpay Bags $6 Mn In Ongoing Series A Round To Offer Digital Escrow Services

More and more consumers are using UPI or credit cards for online shopping, with debit card usage having more than halved in the last two years.

Debit cards losing out as UPI turns default mode on ecommerce

The central bank had rejected Zaakpays application for a payment aggregator licence last year. ET had reported earlier, citing sources, that failure to meet the RBIs net-worth criterion was one of the reasons for the rejection.

Mobikwik’s Zaakpay gets in-principle nod from RBI for payment aggregator licence

Cashfree Payments forged a strategic partnership with Global Trade Plaza, a distinguished global B2B Marketplace, with the goal of enhancing the cross-border payments experience for Indian exporters. Through this collaborative venture, Cashfree Payments ...

Cashfree Payments Partners With Global Trade Plaza To Offer Cross-Border Payments For Indian Exporters

Firms with low price-to-free-cash-flow ratios may represent neglected firms trading at attractive prices. Here are some worth considering.

Low Price-To-Free-Cash-Flow Stocks Like These Are Worth A Look

Cashfree Payments

cashfree

The following is adapted from the book I wrote, Getting Acquired. Receiving a Letter of Intent (LOI) to buy your business can be a milestone that an entrepreneur never forgets. Set the stage. You’ll be holding a piece of paper that says you stand to receive life-changing money if you sell what you’ve worked tirelessly on for the last several years. Time to pop the champagne? Not just yet. As a business owner who has been through this process more than a few times, allow me to detail how you can negotiate the LOI and ensure a smooth transition. Peace of mind will follow and a smooth acquisition process will follow, knowing that you’ve done your homework. Get Your House in Order Finish as much pre-sale due diligence as possible. A lot of deals can go sideways when the seller’s books or organizational structure aren’t clear and organized. The buyer needs to see that there are no hidden surprises waiting for them. A little hard work now will pay big dividends further along in the acquisition process. Yes, it might take longer to close the deal, but if your buyer is talking LOI, you know they’re serious, and it makes sense to get your house in order to make the acquisition process as smooth as possible. Lawyer Up Preparation is a powerful ally in the acquisition process. Chances are, you won’t be the buyer’s first acquisition, nor will you be their last, so don’t underestimate them. They’ll test you for weaknesses, and unless you happen to be well versed in M&A law, it’ll be legal. Buyers will have M&A lawyers on their side or even entire teams working to secure the best outcome for them. Why wouldn’t you do the same? Hire counsel to escort you through these legally choppy waters. Not every buyer will use the law to exploit you, but there will be elements of the negotiation (the definition of company debt, for example) that are open to interpretation, and they’ll push their interpretation over yours every time. Lawyer up and the chance for serious regret diminish greatly. Negotiate a Timeline and Exclusivity Period Deadlines manage the buyer’s and your expectations, but you don’t have to set your time by the buyer’s watch. Yes, once the LOI has been accepted, the buyer is in control of most of the situation. You still have to be comfortable with the timeline to get things done on your end and ensure you’re making the right decision. For example, your buyer might want due diligence done quickly but also require a long exclusivity period so they can scrutinize your business without the pressure of competing offers. They might even bulldoze through negotiations to pressure you into accepting terms in their favor. Set an appropriate timeline that includes an exclusivity period of thirty days or less (seven days if you can get it!). Provide ample time to complete due diligence and other negotiations. This is not something with which you can afford to be submissive. Timelines and the exclusivity period need to be reasonable and agreeable to both parties. What’s the Purchase Price, and How Will They Pay? If price is a sticking point, consider an earnout to close the gap. Earnouts are agreements where you receive future payments on the condition of certain financial goals being met. A buyer might agree to the purchase price plus a percentage of revenue on future sales for a limited time, for example. Once you’ve agreed on a purchase price, a cash settlement is usually better for you and the buyer, unless your buyer is another company. In this case, you might want to swap stock to own equity in this new entity. The buyer won’t always be willing to negotiate such a term, but it’s worthy of consideration. Whether you want to own stock in this new entity instead of receiving cash depends on a number of factors, such as the historical performance of the buying company, what their post-acquisition plans are, your immediate cash needs. For example, do you need seed money for a new business? Minimize Exposure to Reps and Warranties Beware of your buyer weaponizing fundamental representations and warranties. These are legal assertions of facts relating to your business and how you’ll respond should those facts turn out to be false. Buyers may selectively choose the representations that require the most stringent warranties, potentially to your disadvantage. For SaaS businesses, for example, your IP is everything. It’s what your customers pay for: the software, the implementation, the code that powers your product or service. However, competitors’ products, cyberthreats, and regulatory or market conditions can thwart even the best IP. To avoid overexposing yourself post-acquisition, limit your reps and warranties to 10 percent or less for a period of no more than twelve months. Obviously the more robust your IP, the better placed you’ll be to negotiate. This is why doing as much due diligence before signing the LOI is so important. Decide How Much You’ll Leave Behind Most buyers will expect you to leave the business cash-free and debt-free. This affects working capital too. Positive working capital will naturally appeal to the buyer, but a negative figure isn’t always a bad thing. For example, you could be funding growth by using supplier or customer funds. Keep in mind, however, that buyers won’t ignore consistent negative capital, as this could indicate a deeper problem. You might need to negotiate working capital before the sale completes. Just remember this is a point of negotiation and not always a judgment on the long-term potential of your business. LOI negotiations can be stressful, but if you follow the advice here, from someone who has been there and done that, you should leave the negotiating table looking forward to the day the deal is done. Then, you may commence with the champagne popping. For more advice on negotiating a Letter of Intent (LOI), you can find Getting‌ ‌Acquired‌ on Amazon. Andrew Gazdecki is a four-time startup founder with three-time exits, former CRO, and founder of MicroAcquire . Gazdecki has been featured in The New York Times, Forbes, Wall Street Journal, Inc. Magazine, and Entrepreneur Magazine, as well as prominent industry blogs such as Mashable, TechCrunch, and VentureBeat. Now, for the first time, Gazdecki shares the complete story of the company that started it all.

How to Negotiate a Letter of Intent (LOI) That Provides a Smooth Acquisition Process

Richard Heart is the BIGGEST CON ARTIST in crypto history... ...and here is the proof: HEX does not have Value. HEX is SOLD and nobody knows WHERE the MONEY goes. HEX uses SCAM TECHNIQUES Read carefully... 1 - HEX BUSINESS MODEL HAS NO VALUE HEX is a crypto that transfers the Bank Time Deposit business model to the blockchain. This is one of the main Banking business. Valued in the tens of $Trillions. A business used by millions of people around the world every day. HEX is the first and only crypto addressing this market. THIS, OBVIOUSLY, HAS NO VALUE 2 — HEX CODE DOES NOT ADD VALUE HEX is decentralized immutable open source Code running on the Ethereum blockchain. . HERE are all details It works so you can lock-up your HEX over a chosen time period and get a reward. Locked HEX is paid a percentage of the fixed inflation generated every year: 3,69%. All profits are in HEX. HODLERS /STAKERS get profit by staking. The longer you stake your HEX the bigger the rewards. Staked coins are heavily penalized if you decide to unstake. Staked coins disappear from the market. HEX promotes scarcity on the market through profits, penalties and coin lock-up like a Bank time deposit. GAME THEORY BASED ON SCARCITY AND APPLIED TO MONETARY VALUE IS NOT A WORTHWHILE PROPOSITION 3 — HEX DOES NOT HAVE REAL MARKET DEMAND - There are no investors looking for with no 3rd parties. - There are no investors looking for due to inability to dump in a bear market. - There are no investors looking for services. - There are no HODLERS looking for a crypto . income producing assets low downside volatility decentralized Banking designed for the long run THERE IS NO DEMAND FOR HEX, OBVIOUSLY IT HAS NO VALUE 4 — HEX DOES NOT HAVE WHITE PAPER HEX is not an ICO, it is not a white paper, it does not have a roadmap. HEX works perfectly well since release the 2nd December 2019. HEX is a finished product. profits from giving value to HEX though a 1 level referral system. A powerful community : , : : , , , , , , , , , , , , , , , FREE HEX CLAIM TUTORIALS hex-win.com HEXclaim DAILY NEWS Hexologist STATISTICS hexinfo hex-data hexvision hexstat hexviz , hexfolio HEX ALTERNATIVE SITE: AnotherHEX BLOGS: HEXcrypto HEXclaim HEX INFO: MULTI LENGUAGE ESP ITA POR FRA RUS HEX암호 화폐 HEX暗号通貨 HEX CASINO & GAME: hexlotto hexgames pyrahex hextew THIS, OBVIOUSLY, HAS NO VALUE 5— ETHEREUM BLOCKCHAIN IS USELESS HEX runs on the Ethereum Blockchain. Contrary to Bitcoin, here you can use like Uniswap, you can exchange with with stable-coins or thousands of tokens to invest. You can get with Tornado Cash. free DEX no commission anonymity for free All of it decentralized, P2P, no KYC, no risky 3rd parties. THIS, OBVIOUSLY, HAS NO VALUE Where is the PROFIT for Richard Heart? HE SELLS HIS SHITCOIN !!! 1 — HEX IS SOLD! However daily HEX is All HEX is given FREE to Bitcoin Holders. not claimed exchanged for ETH !!! In order to get Bitcoin you need money (electricity, mining equipment...). If you don't own BTC in order to get HEX you need money too. BUT HEX IS A SCAM, BITCOIN IS NOT! 2 — RICHARD HEART GETS IT ALL!!! The HEX Origin account gets all the ETH received every day from the pool. That account is, with 99% probability, own by Richard Heart. It has already collected !!! $10,000,000 Did you know THE MONEY IS ALREADY GONE OUT !!!! WHERE IS THAT MONEY GOING?????? Is Richard Heart going to buy luxury pink underwear? A Villa in Jersey Shore? WE NEED TO KNOW!!! AS LIBERTARIANS we need to know what people does with their money. It is Richard Heart's duty to EXPLAIN TO US what he does with his money!!! OFFERING OPENLY MINEABLE CODE WITH A NEW VALUE GAME THEORY IN EXCHANGE FOR CRYPTO IS, OBVIOUSLY, A SCAM 3 — RICHARD HEART IS GOING TO RUN AWAY WITH THE MONEY!!! HEX Scam runs this way: 1 — Richard Heart programming decentralized immutable code. 2 — , including developers and all other staff are borne by Richard Heart. 3 — HEX code has been before release. 4 — works for 2 years All expenses AUDITED by 3 costly independent companies AND THEN HE IS GOING TO RUN AWAY WITH $10,000,000 IN ETH!!!! > Why would Richard Heart be interested in HEX success? >> Why would Richard Heart be interested in HEX being a TOP crypto valued in the tens of Billions? SWINDLER!!! 4 — RICHARD HEART KEEPS MOST HEX Richard Heart's Origin Wallet keeps 45% of HEX supply !!!! THAT MAKES HEX A COMPLETE SCAM - Although . A , specially the first years when not much Bitcoin was mined. Satoshi Nakamoto also holds 1 million BTC large percentage - In fact most crypto projects have . Some are TOP 10 cryptos for years. Stellar Lumens founders held +80% supply up to 2019. large percentages of tokens in founders hands - , like most HEX owned. You can see when HEX is going to be released to the market as staking periods end. : (see Stake Expirations) , (Stake End) Origin Wallet HEX COINS are STAKED HEX AVOIDS SURPRISE DUMPING BY RELEASING ALL END STAKING DATA hex-data hex.vivion - In fact cryptos like Bitcoin can suffer from the so called : There are no big whales so there is no profit for any individual in improving the ecosystem. "Tragedy of the Commons" and its developers earn their lives working for other projects. Bitcoin has had already 2 inflation bugs, one of the worst problems you can have in crypto. Bitcoin does not have a Bug Bounty program than BTC. No Bitcoin holder will profit enough as to spend money in filling a lawsuit against Bitcoin.com Bitcoin.com belongs to a different crypto Well, Bitcoin drops in value 85% every 3 years. HEX is designed to avoid big drops as coins are locked-up. > HEX IS A PUMP & DUMP Well, HEX uses 1 single level referral program. Like Amazon or Tesla. > HEX IS A PYRAMID SCHEME HEX does not pay old investors with the money of the new ones. It pays by generating inflation, like Bitcoin. > HEX IS A PONZI HEX inflation is fixed 3,69%. Bitcoin inflation is 3,7% after 10 years of much higher inflation. > HEX IS VERY INFLATIONARY Well... then it is the same as Bitcoin. HEX is money, like Bitcoin, Gold, or cash. They serve no purpose but to preserve value. It is up to you to choose the best way to preserve your savings. > HEX IS USELESS "HEX has no utility, it's only purpose is to grow in value making rich early investors, thus, it is a Ponzi" - Difficult to know, as ETH anonymity is free with Tornado Cash. - However, most EXCHANGES OFFER AS A SERVICE so new buyers do not create big price spikes (slippage) and for their crypto to look healthy and attractive. > HEX CREATES ARTIFICIAL VOLUME AND DEMAND IN THE MARKETS volume and demand to newly released cryptos Well, Ethereum made x10.000 return in 2,5 years. Bitcoin has made x1.000.000 return since release. Bitcoin followers on their Youtube channels: "BTC will hit $1.000.000". > HEX WEBSITE IS DECEITFUL "HEX is designed to make x10.000 returns in 2,5 years" Richard Heart claims. claim everyday Do you know what is an VPN? Well, then use it, as simple as that. . > HEX IS A SCHEME TO KNOW MY BITCOIN BALANCE "HEX is insecure because I have to provide my Bitcoin address (where my balance shows)" Free Bitcoin has been labeled as a scam in around the world for 10 years. Ethereum too ... > EVERYBODY SAYS HEX IS A SCAM thousands of articles 1 2 3 4 HEX is INERT CODE sitting on the Ethereum blockchain. > HEX IS AN UNREGISTERED SECURITY IN HEX YOU DO ALL THE WORK. In HEX there is from the work of others. no expectations of profit THERE HAS NOT BEEN TOKEN SALE. . Anybody can run the CODE following these RULES: HEX coins are MINED like Bitcoin 1- You can from your Bitcoin wallet. HEX code will mint you have in that wallet and will send it to your Ethereum address for FREE. sign a message 10.000HEX per every BTC Claim HERE 2 - Daily non claimed HEX is exchanged for ETH in a decentralized pool called . It works as a bidding system. HEX CODE will mint your HEX based on how much ETH you sent as a percentage of the total ETH sent that day. Adoption Amplifier Exchange HERE because it is not a company. It is not an ICO. No expectations of profit from the work of others. It is blockchain decentralized code as it is Bitcoin. HEX is not a Financial Product There are no promises. Well, that is true!!! > RICHARD HEART IS VERY GRUMPY!!!!! > HEX IS DECENTRALIZED IMMUTABLE CODE >> WITH  A REVOLUTIONARY GAME THEORY BASED ON SCARCITY AND APPLIED TO MONETARY VALUE >>> HEX SYNTHESIZES THE BEST OF FINANCE AND CRYPTO AND AIMS FOR THE TOP 1 CRYPTO IN MARKETCAP Check out our podcast on cryptocurrency.

Is HEX The Most Notorious Scam in The History of Cryptocurrencies?

¿Es HEX la estafa más notoria en la historia de las criptomonedas?

It is arguable that in 2020 the entire world stands at a crossroads, and that therefore cryptocurrency has also reached some kind of turning point. Of course, at a crossroads there is a choice of directions, and right now nearly every economy in the world is spinning in the centre wondering which road to take into the future. What seems certain to many is that the road already travelled may not be the best choice to get economies back on track. Even before most countries had gone into lockdown, we watched stock markets crash and the oil price collapse. Only a few months later, as a result of businesses being closed due to the measures taken to contain the virus, there is a vast number of people globally who have been left without employment to return to. The virus has nuked the hospitality and tourism industries, many shutting their doors and filing for bankruptcy. The blockchain sector has not been immune to the challenges of Covid-19, and we have watched as the price of the leading cryptocurrencies has risen and fallen, echoing the state of traditional share prices. It certainly made some pause to re-evaluate crypto as a safe investment, especially when in less than a week after the first reports of coronavirus cases in China came out, the cryptocurrency market collapsed by almost 50%. However, that certainly wasn’t the end of its Covid-19 story How Did We Get Here? A Decade of Crypto writing for Finance Magnates reprises the history of cryptocurrencies in her analysis of how digital assets have got to where they are now, and it would be pointless to recap it again here, as she has followed the timeline so well, including the proliferation of altcoins – the name stemming from them being an ‘alternative’ to Bitcoin, if you didn’t realise that already. Amy Day As Day points out, it has only taken a decade for cryptocurrencies to arrive at their current position, and there has been an enormous amount of activity along the way.  She says, “In 2020, during the COVID-19 pandemic and economic recession, it may seem that cryptocurrencies were designed for the entirely new world that we are witnessing now.” The pandemic has encouraged the idea of a cash-free society, as the virus can be transferred on paper notes and metal coinage. There is also some movement away from currencies that are tied to traditional assets, such as oil. Furthermore, there is a move towards decentralisation on the work front, with working from home suddenly emerging as a winning strategy during the lockdown. And the cryptocurrency market displayed a substantial recovery after its initial plunge in February. Day points to research by the deVere group that shows Europe experienced a 72% surge in fintech app use fuelled by the lockdown. Travelling in a Blockchain Direction It’s also timely to point out that blockchain isn’t just about cryptocurrency. The pandemic has highlighted its other uses, such as vaccine development and medical supply delivery. Other factors supporting blockchain and suggesting it is may be the best answer for many sectors in a post-Covid world, is the emergence of Web 3.0, which will by default encourage crypto adoption due to new browsers, such as Opera, that support BTC and ETH, and can also make crypto wallets more accessible to regular users who are not tech-savvy, thereby, expanding the crypto community. Then there is the DeFi market, which crossed the $1-billion mark at the beginning of 2020. As Day says, “Even space exploration can benefit from the use of the blockchain system.” It seems inevitable that blockchain technology in its many forms is the way forward, and that at the crossroads where the world stands now, blockchain and cryptocurrency is signposting the way to our future. However, as Day concludes, “Our task is to embrace these changes and spread awareness of how this technology and movement can improve our lives.”

Is Crypto At Crossroads?

If you’re confident enough to leave your wallet at home and rely only on your credit card or mobile device when taking a taxi, getting a cup of coffee, or buying groceries then you know that being cashless is not as big of a deal as it was a few years ago. Blockchain technology seems to be the best promoter of this new lifestyle, however, the transition is already occurring even without its help. Maybe using the NFC (near field communication) function inside your phone is not that popular, but swiping a card is something that even your grandparents learned to do. Everyone is aware of where payment systems are heading in the future, and it’s certainly not cash or any other physical assets: it’s all electronic. From Sweden, where only 2% of transactions are currently made in cash, to restaurants like New York’s Amazon Go stores refusing to accept cash, companies are crafting solutions for a cashless future, and the project is helping to hasten that transition with a blockchain-powered solution for small businesses and their customers while being in full compliance with local banks, law enforcement, and local governments. Would you have thought that to be possible? Well, it is and we’re going to explore their solution in this article. NEXXO Who’s ditching cash? Major global hubs are already ditching cash in favor of digital currency. Who’s going to be the one reaching 100% digital payments? We’ll have to wait and see! Sweden Sweden is one of the best examples of a cashless economy today. The percentage of cash in circulation in Sweden has fallen dramatically, representing less than . Only 2% of transactions are made in cash and it’s anticipated that the number will decrease to less than half a percent by 2020. That’s next year! 1.2% of the nation’s GDP “Cash is really disappearing in Sweden. It’s not accepted at many businesses and many banks won’t deal with cash anymore,” Rod Garrett, an economics professor at the University of California. explained https://twitter.com/adrianlovney/status/817285087746281472 It’s common to see throughout Swedish shops. There are even banks that don’t handle cash anymore. The biggest of all, The Riksbank, Sweden’s central bank, is developing a cryptocurrency for mobile payments, called . It’s not all about going strictly digital, though. It’s about safety and efficiency. That’s why they are considering creating a blockchain-based asset for smaller payments between consumers and entities. “No cash accepted” signs e-Krona The US While the Swedish government is supporting the cashless movement, the US, where cash-free establishments spread in recent years, is seeking to introduce legislation this kind of store. The main reason? They are promoting racism and elitism. banning “Most of the people who don’t have credit tend to be lower income, minority, immigrants. It just seemed to me, if not intentional, at least a form of discrimination,” William Greenlee, a Philadelphia City Councilman. said And these are not just words. have already banned stores that are rejecting cash as payment. It will be no surprise if New York or New Jersey will impose similar measures. Massachusetts along with the city of Philadelphia The new law hasn’t even been introduced properly and companies found a potential for a loophole. As Jim Kenney the change that outlaws stores which don’t accept cash, a store can still use only app-based transactions if a paid membership is required to shop there. , which have no cash registers but require an app and an Amazon account (membership) to gain entrance does not fall under the purview of this law. signed off Amazon Go stores https://www.cnet.com/news/amazon-might-open-thousands-of-its-grab-and-go-stores-over-the-next-three-years/ Where there is demand, there will always be a way. India The Indian government is taking things slowly, but it’s giving clear signs that being cashless is the long-term goal. In 2016, India 500 and 1,000-rupee notes. The measure was controversial, mostly because it was implemented under the pretext of reducing criminal behavior and roughly 99% of those banknotes have been removed. Since then, electronic transactions increased, but crime rates remained high. After all, this towards cryptocurrencies being blamed for criminal use, resulting in the complete ban of cryptocurrencies. banned backfired Last year, the Reserve Bank of India financial institutions to stop providing services to businesses involved with cryptocurrency, allowing for a three-month grace period. That period has passed and whether or not the Indian government will lift the ban or not remains to be seen. ordered China There’s nothing much to say regarding Chinese government support. However, you can easily tell people’s choice of a cashless society. What’s interesting in this case is that most of the population are avoiding cash and credit cards. They prefer payment applications like Alipay, which currently dominates the space being valued to . $150 billion https://www.cnbc.com/2018/04/10/ant-financial-to-raise-9-billion-at-a-150-billion-valuation.html Singapore The tiny island-state is notable due to its openness to new ideas. Actually, the government is supporting its population towards a cashless economy through the . Making it a public movement, the (14.4% of the country’s population) who are still using cash as their only mode of payment know where to find support and become part of the transformation. Could this be the last impediment before becoming completely cashless? Smart Nation initiative seniors United Kingdom Brits no longer carry significant amounts of cash. Just are made in cash. It’s not like it is in Sweden, but they’re making visible progress. It took them a decade to lower themselves from six in 10 and it’s expected to fall to just one in 10 in the next five years. three in every 10 transactions The UK government has seen the trend and they are pushing towards a cashless future. It’s not only about convenience, it’s about the a year the cash infrastructure currently costs to run. But the solution is not that straightforward. A portion of these funds need to be redirected towards a digital infrastructure first. With last year’s incident when shoppers across the UK discovered that their Visa cards had inexplicably due to a network failure, the mission becomes harder and harder. £5 billion stopped working A reliable infrastructure Governments move slow when it comes to technology adoption, while private companies are willing to adopt and test them. Our best example is , a financial technology company. Not new to the market, they have been active and profitable . They’ve seen the potential in blockchain technology and designed a blockchain-powered financial services platform for small businesses. NEXXO since 2014 While big companies have the resources and necessary support from large commercial bankers to handle digital customer purchases, employee salaries, or bill and tax payments, the , delaying the day when we’re going to become entirely cashless. That’s where NEXXO steps in with a banking solution that addresses the underserved and underbanked small business owners. small companies are left aside https://www2.deloitte.com/content/dam/Deloitte/sg/Documents/financial-services/sea-fsi-digital-banking-small-medium-enterprises-noexp.pdf NEXXO made a test run once the platform proved itself fully functional, and this is how has seen huge success in Doha, Qatar. The market demand made it the fastest growing fintech company in the Middle East, issuing more than 380,000 bank cards ( ) for over 15,000 small local businesses. That’s right. Real bank cards tied to a local bank account with an IBAN. NEXXO fully complies with local regulatory laws and regulations imposed by the local central bank, government, ministries, and law enforcement entities. QPay MasterCard branded The company is expected to expand into Vietnam, Pakistan, India, Indonesia, Egypt, and China in the following years, replicating the success they had in Qatar. As you’ve seen, some regions are more open to a cashless future than others, however, by having the technical solution in place, NEXXO is able to propose a structure that helps central banks take cash out of their system, local banks increase their deposits, Visa and MasterCard expand their transactions, and small businesses get the necessary banking services for cash-free operation. Conclusion It’s pretty clear that we are becoming a cashless society. But by when? That’s the real question. Debit card transactions just overtook their cash equivalents in 2017. The battle is half won. Now the only thing left is to find new solutions to help hasten the process. is already doing its part. From their approach and from our market analysis, the way to reaching a completely cashless system will be segmented, with each region helping its own customers, businesses, and local banks make the transition. When do you think your home country will be ready to ditch the banknotes? NEXXO

Which Region will be the First to Become Entirely Cashless?

Opinions are divided about the benefits of a cashless society. Let’s first take a look at the cons of a fully-digital economy. According to David Reid, a cashless society could handicap those who are poor or in debt, disabled people, rural families and anyone who may be at risk of having their finances controlled by an abuser. The “Access to Cash” study which published this information also said that many . people are struggling to participate in our digital society Technology moves fast, especially for our . For them, it feels like losing control over their hard-earned cash. Besides that, many elderly people just don’t have access to the internet or smartphones. To give an example, my grandmother still saves every bank extract on paper to have that physical proof of what happened with her money. older generation who are not accustomed to technology At last, to take. Do we want to rely completely on automated systems that determine how much money we own? What happens if someone is able to pull off a successful cyber attack? This would be a catastrophic failure which would disrupt the economy severely! security will remain a big hurdle What happens if someone is able to pull off a successful cyber attack? On the other side, we can find a . On June 29 (2018), The Guardian published an article with the title “Hundreds of cash machines close as UK turns to contactless payments”. According to the article, . Contactless payments are taking over, especially for smaller payments as they do not require you to input your PIN code. strong trend towards a cashless society cash machines are closing at a rate of 300 every month Hundreds of cash machines close as UK turns to contactless payments. Physical cash is still deemed to be anonymous and untraceable, allowing it to play a large role in crime, including bribery, tax evasion, counterfeiting, corruption, … Added to that, digital payments make it harder to evade taxes and hide black market transactions. Technologies like retina-scanning and face and voice-recognition allow users to better protect their online cash. In China, we can already find peer to peer, feeless, instant transaction via the famous chat application WeChat. that allows people to charge it with money and you can pay everywhere with it via scanning a QR code. It feels a bit like Bitcoin, but without the whole mining setup and being more efficient. WeChat Pay is an all in one app We can find other startups trying to innovate the Western world into this idea of a cashless society. Looking at how China handles money, it feels like Europe and other regions are 10 years behind. A startup called is set to take the fintech world by storm. Their Cashfree app wants to simplify the lives of everyone in a local community by and the hassle of dealing with third party service providers and card terminals. Cashfree eliminating the need for cash In fact, it’s very similar to what WeChat Pay offers as it also works with QR codes. When shoppers buy something in a local store, it allows the shop owner to directly retrieve funds from the users’ bank account instead of using a virtual currency as WeChat Pay does. This is . Besides that, the app allows for the integration of crypto payments for local shoppers. instant, feeless, and also eliminates the middlemen Currently, Cashfree has received a European payment license in Belgium and has 4000 active users in Ghent with over 300 registered merchants. It’s definitely a project to keep an eye on! Other products like can be found that try to incorporate both crypto and fiat into people’s lives as one mean of payment. is the first and most famous Visa card. Quickly after, crypto credit cards started to pop up like the one from on the Ethereum blockchain. crypto credit cards TenX Monaco However, cryptocurrency-backed debit cards issued by the Visa were dropped from the network at the beginning of 2018 as . It is not yet clear if we will see a larger adoption of crypto-backed credit cards. Visa said the issuer in Europe violated their operating regulations Nonetheless, China is certainly a step ahead in the run for a cashless society. Whereas other countries are doing a great job towards the cashless idea of living. In Sweden, for example, . A recent study shows that 20% of the Swedes claimed they didn’t withdraw any cash during the last year. barely 1% of the value of payments is made using coins and notes The value of Swedish cash in circulation over the last 25 years. Image: Bloomberg. In the end, there are certainly risks involved when moving to a cashless society, however, it seems to be a plausible idea for the future. It feels like a natural thing to happen as part of the digitalization wave. On the other side, we can also find countries that don’t like the idea of digital money. The average German carries on average more than 100 Euro in his wallet as most restaurants and shops only accept cash payments. Let’s see what the future will bring!

The future of cash money— Is it obsolete?

When they say one thing, yet do the opposite. In September 2017, one of the most famous faces in finance accused Bitcoin of being ‘ ’ He threatened employees with the sack if any were found to be trading it. a fraud. duly crumbled some 24%. Bitcoin’s price Fast-forward just a few months, and JP Morgan, run by Chief Executive and ‘Chief Bitcoin Criticizer’ Jamie Dimon — alongside Morgan Stanley — were revealed to be the of Bitcoin funds in Europe. Yet, this isn’t strange behavior on Wall Street. largest buyers In fact, Dimon has continued his back-and-forth between a position of and . And while you might be right to question the ethics behind his words, you could do well to follow his company’s actions. support condemnation For therein lies the truth behind mainstream opinion on the . blockchain The Rise and Fall and Rise of Cryptocurrency The evolution of Bitcoin — or, cryptocurrencies in general — has been volatile. Yet from modest beginnings , this much-criticized technology is emerging as a genuine candidate . trading at a paltry $0.003 future of money Be it supporting existing payment solutions or upending banking, blockchain technology promises radical upheaval. Bitcoin, Ethereum, and a host of other cryptocurrencies are making in the real world. While over now list upwards of , highlighting the potential scope of blockchain applications. genuine headway 500 exchanges 2,000 coins New exchanges pop up by the day, across the world, showcasing the widespread appetite to invest, as process billions-of-dollars in trades. leading operators Every. Single. Day. A volume that doesn’t even account for the . Whales of Wall Street Do As They Do, Not As They Say Despite what the world of finance is , their actions give insight into their true beliefs. saying In January of this year, billionaire currency speculator telling investors not to buy, and the Bitcoin price dropped by 44%. George Soros labeled cryptocurrency a ‘bubble’ Then, three months later, the , showing just how quickly financiers can . Soros family office approved in-house cryptocurrency trading have a change of heart On February 7th, causing the Bitcoin price to fall by 27%. Goldman Sachs warned ‘most cryptocurrencies will crash to ZERO,’ Yet, despite the negative outlook, : a start-up with crypto-ambitions given its acquisition of the Poloniex exchange — the perfect counterpart to , perchance? Goldman still invested in Circle $400 million Goldman’s own trading desk And there’s a significant precedent for similarly supportive actions throughout Wall Street: Billionaire hedge fund manager Stephen Cohen , whose net worth is $14bn, bought into Bitcoin around $6,800 Avenue Capital Group CEO Marc Lasry has invested 1% of his $1.7bn personal fortune into Bitcoin around $7,500 Even VC firm Andreessen Horowitz — investors in Airbnb, Skype, and notably, Coinbase — have put $300 million into a cryptocurrency fund However easy it is to cry ‘bubble’ as markets crash; when global institutions known for generating billions in profit start knocking on an asset’s door, it’s time to take note. Bankers’ words might come cheap — their investments, less so. Blockchain Is More Than A Speculative Bet It’s not just financiers tailing the tech: countless industries have turned to decentralized services, hoping to ease the pains that other solutions can’t. Payments Gateway Following legalization in Canada, the cannabis industry is on its own growth trajectory. However, marijuana’s Schedule I status makes it hard for banks to work with state-regulated businesses, shrinking the payment options in a multi-billion-dollar sector. Blockchain platform , using to process transactions. Alt Thirty-Six solves the issue through its e-payments network Dash The solution offers cannabis retailers a means of scaling via a secure, fast, and low-cost network — one that could ultimately render the entire space ‘cash-free.’ Funding Mechanism Professional sport is capital-intensive, requiring significant investment to reach the top. To level the playing field, , offering ambitious athletes and teams an alternate route to the next level with investors earning a return in the event of future sporting success. SportyCo has developed a smart contract-powered crowdfunding platform Ronaldinho and Roberto Carlos are both on board, appreciating what early funding can mean to an aspiring athlete’s prospects. Lifestyle Enabler The explosion of cryptocurrencies has created countless millionaires worldwide. Yet, there are few places where such a clientele can put their funds to use. through a multi-faceted approach with the proposition including a ground-breaking online ATM. Here, clients can exchange fiat and cryptocurrencies into EUM — Elitium’s native currency — to use within the Elitium Network, before converting funds back into fiat. Elitium is transforming luxury lifestyles The network revolves around its all-inclusive lifestyle app where clients purchase luxury goods and services via a secure, low-cost payments platform. In basing its services on the blockchain, Elitium removes the inefficiencies of the luxury sector, as it has already achieved in yacht rental — using and smart contracts to reduce service providers’ reliance on paperwork, identity verification, fund transfers, and more. cryptocurrency By adding features such as an AI-powered personal assistant — and combining technologies in a single app-based innovation — Elitium is becoming the ultimate luxury lifestyle-enabler. The Cusp of a Revolution? The : blockchain technology is finally proving its worth. signals are positive Projects are making headway, integrating solutions to overcome deep-rooted problems that, until recently, could not be solved. While financial institutions are positioning themselves to capitalize on the progress — market crashes merely presenting further opportunity to invest. Finally, one year on from claims of fraud, are we moments away from blockchain’s breakout? Wall Street seems to think so.

What the Whales of Wall Street Aren’t Telling You

by BlockEx 1. Self-regulatory Trade Association CryptoUK Asks MPs To Implement Regulations , the first self-regulatory trade association for the UK crypto industry, is calling for MPs to by putting them under the body’s jurisdiction. The proposal was created in response to the Treasury Committee’s announcement it would launch an inquiry into cryptocurrencies. Along with BlockEx, other members of CryptoUK include Coinbase and eToro. Among the proposals, there is a Crypto-License which would be granted to AML- and KYC-compliant crypto exchanges. It was also added that, ideally, the focus should be on the intermediaries, rather than cryptocurrencies themselves, as peer-to-peer policies already exist. The group believes that regulation is fundamental for the industry to flourish. CryptoUK apply Financial Conduct Authority (FCA) regulations and guidelines to cryptocurrencies 2. Crypto And Blockchain Will Lead To Cashless Society, Says S Korea Central Bank The Bank of Korea (BOK), South Korea’s central bank, has been attempting to create a ‘cashless society’ for some time now. It has now announced that the goal. The cashfree society pilot was officially announced yesterday, along with the involvement of blockchain and cryptocurrency for aspects such as payments. An organisation investigating digital currencies and the impact they can have on the financial system has also been established. The ambition is to save on currency producing costs ($47 million was spent in 2016) and improve customers’ experience. The move would also help fight the black market, which is mostly based on cash transactions. crypto and blockchain are being considered as possible tools to achieve 3. Biggest Names In Automotive Industry Launch Blockchain Research Coalition A by some of the biggest names in the automotive industry. BMW, GM, Ford and Renault have partnered to form the Mobility Open Blockchain Initiative ( ). Among the 30 members involved in the project are Bosch, Berkeley (Blockchain), Hyperledger, Fetch.ai, IBM and IOTA. The aim of the project, which was launched today, is to cut costs, as well as improving safety and increasing accessibility for transportation. The aspects they hope to improve with blockchain technology are ‘payments, data tracking, and supply management, to consumer finance and pricing, and more futuristic areas like autonomous vehicles and ride-sharing systems’. Although this is not the first time automakers have joined this type of group, this is the first coalition focused on the industry. blockchain research coalition has been launched MOBI 4. Korean Peace Treaty Recorded On Ethereum Blockchain South Korean developer Ryu Gi-hyeok has . By doing so he made history. At the 2018 Inter-Korean Summit, leaders Moon Jae-in and Kim Jong-un signed the Panmunjom Declaration, which was then recorded through two , in English and Korean. recorded the details of the peace treaty between North Korea and South Korea on Ethereum blockchain transactions This news roundup was brought to you by . BlockEx To receive our daily news roundup in your mailbox, sign up here: http://bit.ly/BlockExNewsRoundup-Updates

02/05/2018: Biggest Stories in the Cryptosphere

It’s an amazing feeling to see $2 million show up in your company’s bank account! Here’s the playbook we used to raise our series A round for SlideRocket: Build an MVP and get traction Figure out how much money to raise Pitch a ton of investors (including strategic) Solve for % ownership rather than pre-money valuation (And if you want more info then bring your questions to my free workshop on valuing your startup this Thursday, 6/22/2017 at 6p ET) 1. Build an MVP and get traction SlideRocket was presentations in the cloud, originally targeted at business users. I started the company with two other people and all three of us had income from other businesses. We were building the next generation of my presentation company, so I had customers we were planning to bring over to the new system when it was ready. My partners had months of severance from their last startup. So we were able to self-finance the idea and prototype stages. We talked about raising money via a convertible note, but decided to wait until we had more traction in order to do a larger round and get better terms. We had the advantage of starting with product market fit because I already had paying customers, so we focused on building what they wanted. We did a and started getting signups to our waitlist. pre-announcement on TechCrunch in March 2008 We launched six months later in October, and we raised money in December. So our investors could clearly see how quickly users were adopting our service, and we took much of the guesswork — and risk — out of the equation. 2. Figure out how much money to raise If you’re in the idea stage then shoot for $25k to $50k from friends and family. Or convince your first big customer to pre-pay. Or save up enough money that you can fund it yourself like we did. At SlideRocket we had a waitlist of thousands of people, both free and paying users (although no real revenue yet), and customers from my previous company ready to migrate. We built out five years of financial projections and decided to raise $2 million based on projected revenue and headcount. For companies in our position, Sari Azout — partner at Level Ventures and Entrepreneur-in-residence at Rokk3r Labs — recommends budgeting $15k per person per month for 18 months to cover salary, office space, equipment, general costs like servers, and a margin of error. So at that rate our $2 million would give us 7.5 people for 18 months, which is more or less what we did with the money. We had two founders at that point and we hired a VP of marketing, a lead developer, a head of QA, an inside sales rep, and a head of business development. We did, in fact, go through the money in about 18 months. 3. Pitch a ton of investors (including strategic) Fundraising is a lot like dating, and we had to kiss a lot of frogs (no offense to anyone we met with). The people we talked to fell into two categories: venture capital firms (VCs) and strategic investors. Strategic investors are larger companies that invest in startups, and we had one big-time Web services firm who found us via our TechCrunch article. That led to a bunch of productive conversations and they ultimately offered to invest. We were meeting with VCs and other potential strategic investors at the same time. Most of these meetings didn’t go anywhere, and sometimes people were interested but we could tell they weren’t the right fit. One VC wanted us to change both our business model and our behavior — which is a lot to ask of a startup! We got many of our investor introductions through friends and colleagues. We also hired DLA Piper, a law firm with a big Silicon Valley presence, who helped us with our pitch deck and made a few intros through their startup pipeline program. They cut us a deal where they didn’t charge us until we raised money, at which point we cut them a (big) check plus some warrants that they made money on when we were acquired a few years later. Sometimes the VCs would introduce us to other potential investors, either because they weren’t interested or because they didn’t want to lead the round. We met amazing people like Tim Draper and Fred Wilson, and we spent a bunch of time on Sand Hill Road. 4. You can solve for % ownership rather than pre-money valuation When people talk about “valuation” they usually mean pre-money valuation — so how do you know what that is? If you were an established company you could use discounted cash flow — but that’s hard with pre-revenue startups. The basic fundraising equation is: Cash Invested + Pre-Money Valuation = Post-Money Valuation So $2 million of cash invested into a company with a pre-money valuation of $4 million = $6 million post-money valuation. The shortcut we used was that our VCs wanted to own about 1/3 of our company after the transaction. So that allowed them to solve for the pre-money valuation by dividing cash invested by ownership %. Cash Invested ÷ Ownership = Post-Money Valuation So $2M Cash Invested ÷ 1/3 Ownership = $6M Post-Money Valuation. Now simply subtract the $2M Cash Invested from the $6M Post-Money Valuation to arrive at a $4M Pre-Money Valuation. The offer the VCs made us was “2 on 4” — meaning a $2 million cash investment on a $4 million pre-money valuation. We negotiated “2 on 5” — meaning a $2 million cash investment on a $5 million pre-money valuation, which gave our VC 28.57% ownership (their $2 million cash investment divided by the $7 million post-money valuation). So we saved almost 5% of equity. We were okay with the VCs taking about 1/3 of the company because it gave us cash in the bank plus the social proof of taking money from a firm everyone recognized. One of their partners with operating experience joined our board of directors and was hugely valuable as we grew. Getting the Best Deal You’ll get the best deal when you have multiple offers on the table at the same time. We had two VC term sheets in hand plus a $1 million offer from the strategic investor. Everyone wanted a board seat, so we had to decide between a three-person board (one of us, one investor, and one independent) vs. a five-person board (two of us, two investors, and one independent). Having three options put us in a great position to negotiate. After some back and forth we ultimately decided to go with a single VC because we were concerned that the strategic investors might restrict our freedom by steering us away from working with their competitors. Watch Your Exit Price Also remember to keep an eye on your potential exit price. Your series A investors are looking to get at least 10x their money within 5 to 7 years. That means they’ll want you to sell your company that’s currently worth $7 million post-money for $70 million. And if your company has a $20 million post-money valuation then you’ll need to sell it for closer to $200 million. Crunchbase reports that , so it gets harder to find buyers the further you go beyond that. There are many more companies who can acquire you for $50 million vs. $500 million, so it doesn’t necessarily help you to raise more money. the average acquisition price for startups since 2007 is $155.5 million Keep in mind that — because he had raised less money so he still owned 80% of his company. Michael Arrington reportedly made more money selling TechCrunch for $30 million than Arianna Huffington did selling Huffington Post for $315 million Next Steps There’s a lot more to discuss on startup valuations, so I’m hosting a this Thursday, 6/22 at 6p ET. You can attend either online OR in our awesome new 10xU learning center in Wynwood, Miami. free workshop on valuing your startup I’ll cover additional considerations like: Planning for the option pool Where to find the market rates that investors are paying Avoiding the mistake of self-selecting for mediocre talent And more! Free RSVP is here: . Bring your questions! bit.ly/Valuation10xU Written by Mike Lingle — Find more practical suggestions for entrepreneurs at 10xU.com or connect with me on LinkedIn .

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