Company Overview
Snapshot
Founded in January 2014 by Daniel Peled, GetGems operated with 1–10 employees. The company raised $400K across one funding round from Magma Venture Partners. In December 2015, PayKey, a company with a similar focus, won a startup competition, signaling a competitive market landscape for GetGems.
Business overview
GetGems developed a free mobile application for iOS and Android, aiming to simplify and secure instant messaging while integrating cryptocurrency. Its core technology provided users with an automatic protected wallet, allowing for easy transfer of Bitcoin and Gems via text messages using usernames as wallet aliases. The company operated within the Fintech & Insurtech sector, specifically targeting the Money Transfer & Management and Mobile Platforms & Interfaces categories, serving consumers by enabling a social network based on an attention economy where users could be paid for their attention.
Strategic signal
In December 2015, PayKey, a company operating in a similar space, won a mobile monetization startup competition. This event highlighted the increasing competition and innovation within the mobile payments and cryptocurrency messaging sector, indicating a dynamic market environment for GetGems.
Log in to access full profile ›Company Intelligence Q&A
- What was GetGems' primary offering?
- GetGems offered a free mobile application for iOS and Android that combined instant messaging with cryptocurrency functionalities, allowing users to send Bitcoin and Gems through text messages.
- When was GetGems founded and by whom?
- GetGems was founded in January 2014 by Daniel Peled.
- What was the total funding raised by GetGems?
- GetGems raised a total of $400K in January 2015 from Magma Venture Partners.
- What was a notable competitive event in the market during GetGems' operation?
- In December 2015, PayKey, a company with similar offerings, won the Mobile Monetization Summit Startup Competition, indicating a competitive landscape in the mobile payments and messaging sector.
- What was the operational status of GetGems?
- GetGems ceased to operate in December 2017.