Documo Launches First Equity Token Offering (ETO) For Stake in Company
Documo has declared that their company ownership by issuing Equity tokens. The company is said to commence its new endeavor as of May 16th, 2018, which will be running until July 15th, 2018.
Documo is a technology company that focuses on the importance of bettering documentations. In particular, they aim at bringing solutions that make working with documents easier and secure, while minimizing the negative impacts of paper on the environment.
The whole project is supposedly privately funded with specialized figures like David Hauser, founder of Grasshopper and Chargify and John Redgrave, former COO of Lattice Data. The Documo team is being led by its CEO Matt Herrera. It was not until last year that the team took their first steps towards bringing their solutions to life via mFax.
mFax was created to eliminate traditional way of faxing documents. What makes the mFax platform potent is the emphasis placed on security and reliability. Documents are said to be encrypted during transport and requires user authentication and related built-in features to access them. Furthermore, mFax uses direct tier-1 carrier relationships to maximize fax success rates.
Herrera argues that blockchain technology has the potential to improve the way consumers and businesses deal with excessive papers. He further points out that their business is:
“concentrated in regulated industries such as healthcare and permission-blockchain technology can be the foundation for a next generation of secure document workflow products.”
The reason for launching the Equity Token is supposedly to raise funds towards creating their next product, which is called the Secure Document Exchange Network (SDEN). The SDEN network is a permissioned blockchain network that allows one party to securely transmit documents to another. It is founded on three key facets including identity, security and distributed ledger technology (DLT).
Unlike most projects which are advertised through ICOs, Documo decided that SDEN will not be separate from its other existing products. Herrera believes that this approach will not only benefit the Documo team, but also investors, as the success to one will automatically result in the success to the other.
According to existing information, the Documo Token (DCMO) will be an ERC-20 based security token, which will eventually be listed on exchanges that solely support security tokens. The tokens are being offered under SEC Reg D Rule 506(c) and will only be issued to accredited investors for the time being. For more information, check out: https://www.documo.com/investors/eto