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February 2022 Investor Update

· 4 min read
Matt Galligan

Hi all! I’m extremely excited to report that we’ve been full steam ahead and are on schedule to release the SDK to developers before the end of the month!

More specifically, we now have XMTP nodes up and running, a basic front end, and are actively sending messages around the playnet (pre-testnet testnet). Next up is bringing in those developers. Now onto the rest of it…

Current tagline

XMTP is the web3 communication network, enabling messaging between wallets.

Financials

  • Cash in bank: $24.3M
  • Current burn target: $250k/mo
  • Runway at current burn: 79 months
  • Team size: 9

Updates

  • I’m going to be at ETHDenver this following week from Monday the 14th, and leaving Thursday the 17th. It would be great to get together with any of you, or attend whatever event you might be putting on!
    • Our community manager Graham will be in town from the 16th-19th, so by all means he’d love to meet some of you as well
  • As mentioned in the intro, we’ve got the XMTP Playnet up and running and have been sending messages around, which is very exciting
    • The engineering team has been firing on all cylinders and in the last few weeks we’ve seen an impressive stream of updates
  • We’ve been distributing our SDK docs to select developers, as well as meeting with each and every one of them
    • There’s been a lot of awesome feedback so far, and most of them are champing at the bit to get going and add messaging to their experiences
    • Some even wondering when they can start running nodes of their own!
  • With the addition of new developers coming in, we’ve relaunched our Community Forum and Discord Server
    • It’s early days here, but we’ve seen some awesome stuff posted so far…excited to get this spread out a little further
    • If you haven’t yet joined these, follow this form and it’ll get you right into both
  • Recruiting has been off to a great start so far this year
    • Nicholas joined the team as a senior engineer from Brex and in just the last few weeks has already contributed a ton
    • Our next senior engineer starting in a couple weeks was actually a referral from Nicholas too and previously worked on Signal
    • There’s a few more awesome folks in the pipeline, one of which is a senior engineering manager at Github who we gave an offer to this week

Asks

  • Please review the Litepaper and provide any feedback that you might have soon as we’re going to start putting it more public in short order
    • If you’re not already in the Google Doc, let me know and I’ll add you
    • Note: it’s still in draft form with a number of things still left to add, but it’ll get you 80% of the way there
  • Intros to any teams you might be connected with that will be attending ETHDenver. We’d love to meet with them!
  • We’ve got a number of open positions that we’re actively looking to fill. Our careers page is available at careers.xmtp.com.
    • There are three positions in particular that we’re keen to get intros to folks around as they’ll be the hardest to fill
      • People Ops Lead (Head of People)
      • Senior Engineering Lead (Most senior eng manager right now)
      • Protocol Researcher/Engineer
  • Let us know if you’d like to have a look at the SDK! We’d be happy to get you in there.