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Former Mozilla CEO raises 35 million dollars in 30 seconds

Eager to secure the future of his new web browser, Former Mozilla CEO raises 35 million dollars in 30 seconds for web browser Brave.

Former Mozilla CEO Brendan Eich has raised $35 million, as he continues his push to bring the Brave browser to the masses.

The money was raised through the sale of Brave’s new cryptocurrency, Basic Attention Token (BAT). Users will be able to use it to pay for advertising space on the browser.

Former Mozilla CEO raises 35 million dollars - Compelo

The initial currency offering (ICO) was for 1.5 billion BAT tokens, with the tech company hoping to make $35 million. BAT’s initial price is based on Ethereum. The digital currency is competing with BitCoin for control of the market and Eich hopes for similar results.

It took just 24 seconds for Each to reach his target, with just 130 buyers scooping up the initial supply of tokens. Likewise, just five people claimed over half of the 1.5 billion tokens.

Former Mozilla CEO raises 35 million dollars - Compelo

Former Mozilla CEO raises 35 million dollars in 30 seconds, but what is Brave?

Eich is a huge figure in tech circles. Over the years, he has created game changing scripts and software. He helped to develop JavaScript. Likewise, he also helped to turn Mozilla Firefox into a top web browser.

However, he put his reputation in jeopardy in 2014, as he expressed support of California’s anti-gay marriage bill. As a result, he stepped down as CEO of Mozilla amid the backlash. Yet, personal views aside, he has shown once again why he is one of the internet’s most important figures.

Former Mozilla CEO raises 35 million dollars - Compelo
Flickr/Jonas Strandell

His latest creation, Brave, allows users to browse the net without fear.

There are two big features that make Brave stand out from the crowd. It comes with a built-in ad-blocker, which lets users to hide ads without harming browser speed. Likewise, Brave also comes with its own payment system, which allows users to reward the sites that they love.

The money raised will be spent on improving Brave. Eich hopeful that his creation can rival Chrome and Edge in the future. However, with users reporting many bugs and issues, the software still requires a lot of work.

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