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NEO · 1w

TranslateMe conducting private fundraise, offering equity in company and TMN tokens - Neo News Today

TranslateMe is conducting a private equity raise to establish its commercial API services for developers, businesses, and platforms.

TranslateMe is an instant translation service in the Neo ecosystem. The service utilizes a trustless translation protocol that leverages machine translation and blockchain technology. Through machine translation and human validation, content is said to be translated with 99.9% accuracy. The validators can suggest improvements and review each others edits, and vote on the most accurate translations. 

The goal for the equity raise is US $500,000, with each share costing $2,500. Along with equity, shareholders will receive 1,000,000 TMN tokens. Through the private raise, TranslateMe aims to distribute 20% of its total token supply and 20% equity in the company. The tokens will be locked for two years, whereas the shares are to be available immediately.

In a conversation with Neo News Today, TranslateMe founder, Ryan Lloyd said: 

We are trying to stay away from the regulatory issues that come from selling tokens, even though [the TMN] token is strictly a utility. The share offering gives us flexibility and is a tangible purchase for investors. The TMN tokens are essentially a bonus. For a crypto enthusiast, it’s the ultimate balance between the allure of crypto and the traditional model for investing.

According to TranslateMe, the current translation market is worth an estimated $40 billion and is expected to grow at a rate of 19% annually. TranslateMe says the platform offers a market advantage because of its lower costs and incentive-driven machine translation algorithm that learns from human corrections.

To date, TranslateMe’s MVP has surpassed one million downloads, and it offers a marketplace for translation services. The platform currently supports French, Russian, and German, with other languages on the roadmap.

To request a meeting with Transl...

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