Overstock.com blockchain subsidiary Medici Ventures participates in Series A funding for Factom, Inc.

SALT LAKE CITY, 2017-Feb-08 — /EPR Retail News/ — Medici Ventures, the blockchain-focused subsidiary of retail technology leader Overstock.com, Inc. (NASDAQ:OSTK), announces its participation in the Series A funding for Factom, Inc., a blockchain-as-a-service technology company based in Austin, TX focusing on mortgage compliance solutions.

“We like what Factom is doing with blockchain technology in the mortgage space,” said Medici Ventures president Jonathan Johnson. “This is the latest in a series of strategic investments to further position Medici Ventures as the global leader in blockchain technology.”Medici Ventures received 2.5% of Factom’s common stock in return for a $750,000 investment. Steven Hopkins, Medici Ventures’ chief operating officer and general counsel, will join Factom’s board of directors.

Medici Ventures joins the Factom Series A round of funding, which was led by noted venture capitalist and blockchain enthusiast Tim Draper.

“We’re thrilled to include Medici Ventures as a strategic investor in Factom. The Medici team impressed us with their deep knowledge and expertise in blockchain technology,” said Factom CEO Peter Kirby. “They bring operational experience running a global business with thousands of employees and practical knowledge of the shifting regulatory environment. We consider them some of the smartest investors in Blockchain.”

Medici Ventures is a leader in advancing blockchain technology, and parent company of t0.com, which recently aided Overstock.com in completing the world’s first blockchain-based stock offering on its proprietary platform.

About Medici Ventures:
Launched in 2014, Medici Ventures is a wholly-owned subsidiary of Overstock.com, Inc. created to manage and oversee investments in firms building solutions leveraging and servicing blockchain technologies. Medici Ventures has several blockchain-focused investments, including t0.com, Peernova, Bitt, SettleMint, Factom, and IdentityMind. The company’s majority-owned financial technology company, t0.com, executed the world’s first blockchain-based stock offering in December 2016.

About Factom, Inc.
Factom, Inc. is an Austin-based blockchain technology company that’s on a mission to make the world’s systems honest. People and institutions today can solve hard problems and change the world for the better when they have a reliable framework to build upon. Honest systems free up dead capital, which allows companies to grow and helps people to lift themselves out of poverty.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact.  Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company’s Form 10-Q for the quarter ended September 30, 2016, which was filed with the SEC on November 3, 2016, and any subsequent filings with the SEC.

Media Contact:
Mark Delcorps
Overstock.com, Inc.
+1 (801) 947-3564
pr@overstock.com

Investor Contact:
Mark Harden
Overstock.com, Inc.
+1 (801) 947-5409
ir@overstock.com

Source:  Overstock.com, Inc./globenewswire

UK based Mobicode to integrate Piceasoft’s PiceaVolumeEraser™ as a part of its retail ‘ecosystem’

Tampere, Finland, 2016-Mar-31 — /EPR Retail News/ — Piceasoft and UK based Mobicode have signed a technology licensing agreement to integrate unique PiceaVolumeEraser™ as a part of Mobicode retail ‘ecosystem’. Mobicode considers PiceaEraser™ the best erasure tool in the market for their business.

Mobicode is a comprehensive set of modular tools that support the key activities a business will follow when handling mobile devices. The customer base consists of independent retail chains, recycling companies and distributors including 5.000 users in the UK alone. Mobicode creates a great channel for Piceasoft products in this segment.

“We have once again proven that we are flexible and can quickly adapt to the market needs. We consider this as the market breakthrough for our new PiceaEraser™ technology,” said Jyri Roselius, Piceasoft CEO.

The winning two-way cooperation is based on Piceasoft white-label technology and proven Mobicode delivery model. PiceaVolumeEraser™ technology is seamlessly integrated to Mobicode offerings and available to consumers in the UK and worldwide.

“PiceaEraser™ represents a business opportunity and creates a significant competitive edge to our Mobicode offering in the demanding service market. Piceasoft provides us with unique technology that is not offered by anyone else in the market,” said Peter Kirby, Mobicode CEO.

SOURCE: EuropaWire