TIMEREPUBLIK finalist at LeWeb London
LeWeb London is one of the most important internet conferences in Europe. A key element is the start-up competition. This year one of the 16 finalists is a Swiss start-up: TIMEREPUBLIK, a company based in Ticino.
TIMEREPUBLIK is a global online marketplace where services exchanged are valued in fungible units of time rather than money. Users offer their skills to other community members. Every user has a profile including ratings and recommendations others have given him. Users earn credit based on time spent performing the offered services. That credit is then used to "buy" a different service at a future moment from any other member. A short video on the website explains how it works.
An example: Gain 2 hours credit by consulting someone on web design, then “spend” 1 on someone to translate my presentation, and the other to get event planning help. This example shows: In TIMEREPUBLIK the time of every user has exactly the same value.
TIMEREPUBLIK was founded in 2012 by Karim Varini and Gabriele Donati. Both founders are from Ticino but Gabriele Donati is living in New York since several years. Although the start-up launched the beta version of its service only a few months ago, users from all around the world have registered.
The company is the only Swiss start-up of the 16 LeWeb London finalists. The finalists were selected out of 350 applicants.
Swiss start-up turns to the Nasdaq
Last year Auris Medical raised more than CHF47 million in venture capital for further growth. This was the largest round of financing in Switzerland in 2013. The company has two drugs in development: an injection for tinnitus and a drug for hearing loss in the inner ear. The tinnitus medication has already started the third and most expensive stage of development, the phase III trial. The Basel company, which has its headquarters in Zug, intends to raise the necessary capital on the Nasdaq: the IPO should bring Auris a total of $95 million in new money.