Bobbob
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Bobbob was a Sydney-based crypto fintech startup founded in 2021 by Byron Goldberg, a former chartered accountant and ex country head of crypto exchange Luno Australia. It pitched itself as the offspring of MetaMask and Revolut: a familiar-looking wallet app designed to bring the masses onto crypto without them knowing it, using crypto in the backend. Its MVP was a high-interest AUD account sharing interest with savers, plus ultra-fast cheap payments, self-custody and cheap cross-border transfers, and it later added carbon token rewards paying customers 0.065% of every dollar deposited. The company raised about $684,000 in a seed round in April 2022 and was recorded as out of business by December 2022.
02 / Bobbob FAILURE REASONS
Failure reasons
Bobbob did not survive 2022. After raising roughly $684,000 in an April 2022 seed round, the three-person startup ran out of runway within the year and was recorded as out of business on December 1, 2022. Its consumer-crypto pitch - high interest powered by a crypto backend - launched just as the 2022 crypto market crash destroyed both the yields such models depended on and the funding environment for early-stage crypto consumer apps. No pivot or follow-on funding materialized.
03 / EVENT HISTORY
Events in the structured record
- Founded in Sydney
Bobbob was founded in 2021 in Sydney, Australia by Byron Goldberg, setting out to build a crypto-powered savings and payments app that looked and felt like a traditional bank account.
- Seed round and carbon token rewards
In April 2022 the company closed a seed round of about $684,000 and, as a Stone & Chalk resident, launched carbon token rewards paying customers 0.065% of every dollar deposited.
- Out of business
Bobbob was recorded as out of business on December 1, 2022, less than a year after its seed round.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Bobbob raised about $684,000 in a seed round in April 2022 and launched carbon token rewards of 0.065% on deposits.
- 02
The company was recorded as out of business on December 1, 2022, within a year of its seed round, amid the 2022 crypto market downturn.
- 03
No follow-on funding, pivot or asset sale has been publicly documented.
- 04
No reliable realized loss figure with clear subject, period and basis has been disclosed; funding raised is not a loss.