Mountain View Capital Announces Investment in Blockchain Company SONM (Ticker: SNM)
SEATTLE, December 22, 2017 (Newswire.com) - Mountain View Capital is proud to publicly announce the addition of its latest portfolio company, SONM. SONM (which is short for “Supercomputer Organized by Network Mining”) is using blockchain technology to assemble the world’s largest decentralized supercomputer. Instead of using mining power to process blockchain transactions and “mine” new tokens, SONM’s decentralized network uses that processing power to solve large problems and calculations that are far too complex for one single computer in the network.
Mountain View Capital has acquired a substantial amount of SONM tokens (ticker symbol “SNM”). Furthermore, Mountain View Capital has committed to invest up to $10,000,000 in SONM over the next six months.
“We are very excited about the prospect of decentralized, collective computing. We believe the asset sharing models of AirBnB and Uber will be applied to computers and IoT devices to create a large computational network which, over time, takes significant market share from Google and Amazon,” said Tony Mandarano, MVC’s Managing Director.
Mandarano added: “There are many teams in the space pursuing a vision of creating a decentralized computer network. However, we believe that SONM’s team is far better equipped for the challenge and has a functional product MVP which others in the space do not. We typically steer clear of price targets, but in this particular case we believe the market has greatly undervalued SONM in comparison to its peers.”
About Mountain View Capital
Mountain View Capital (“MVC”) is an active investment fund managing its own capital. MVC invest in teams of people who share a vision for the world which is able to captivate and compel others to join in the creation of that new reality.
Our approach is to seek out teams with bold visions whose projects and companies are currently undervalued by investors and provide them with the funding, support and platform to accelerate the reality of their vision.
We invite you to learn more about MVC by visiting our website at https://www.mountainview.capital.
Source: Mountain View Capital