Paragraph Acquires Mirror, Shifts Focus to New Web3 App ‘Kiosk’

Mirror’s Pivot to A New Web3 Social Platform

Denis Nazarov, Founding father of Mirror, described the brand new platform as a social house the place customers “not solely see what individuals are saying, what they’re liking and who they’re following – but in addition what belongings they’re shopping for”. He added, “We predict that the entire concept of asset possession and assortment is not only transactional, it’s additionally social.”

Whereas the monetary particulars of the acquisition weren’t made public, Colin Armstrong, Founding father of Paragraph, indicated that the deal was structured to fulfill each events. “Everybody may be very pleased with the end result. Mirror will get to pursue their new product, and the Mirror product will get to proceed underneath somebody who’s absolutely devoted to publishing,” he shared.

Union Square Ventures, an investor in each Mirror and Paragraph, was concerned in facilitating the settlement.