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Vibra
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Vibra, commonly referred to as Vibra One, is a company that owns a cryptocurrency investment app. They want to empower users in Africa on how to manage their wealth through digital assets. They offer a simple and secure platform for learning, trading, and investing in cryptocurrencies.
The company was developed to address the increasing demand for crypto services in emerging markets, starting with Nigeria, and has expanded to other African countries like Ghana and Kenya.
Vibra is a friendly, easy way for beginners to learn, experiment, and make trades with a community of experts. They have made crypto easy and safe through intuitive tools and features.
Our Mission
To empower individuals in Africa by providing a secure and user-friendly platform for learning, trading, and investing in cryptocurrencies, thereby driving the mass adoption of digital assets.
Our Vision
To be the leading cryptocurrency investment platform in Africa, fostering financial inclusion and economic growth through innovative blockchain solutions.
Core Values
Below are what they believe in:
- Innovation: Continuously pushing the boundaries of technology.
- User-Centric: Prioritizing the best user experience.
- Integrity: Conducting business with honesty and transparency.
- Collaboration: Working together to achieve common goals.
- Excellence: Striving for the highest quality in all endeavors.
Vibra Logo
Services
Vibra provides the following services:
- Mobile application for cryptocurrency trading and investment
- Peer-to-peer (P2P) transactions
- Digital wallet services
- Educational resources and community engagement for learning about blockchain and cryptocurrencies
- Customer support and maintenance services
Business Model
Vibra operates on a business model that includes both direct-to-consumer (D2C) services through its app and business-to-business (B2B) solutions. They generate revenue from transaction fees, subscription services, and possibly educational programs within the app.
Recent News About Vibra
As of July 2023, Vibra ceased its operations in all its active markets. The shutdown was primarily driven by financial difficulties and declining user engagement. The company faced a challenging market environment, compounded by the broader downturn in the cryptocurrency sector and the collapse of significant players like FTX.
Despite securing $6 million in venture capital funding from investors like Lateral Frontiers and Dragonfly Capital in 2021, Vibra struggled to achieve sustainable growth and profitability. The company’s efforts to drive user adoption through education and incentives proved costly and insufficient to maintain its operations.
As part of its shutdown process, employees were given the option to resign or be fired. The company’s services were officially discontinued by mid-July 2023. The company stopped its services by mid-July 2023. This is part of a bigger pattern of web3 startups in the area merging and cutting back, showing how unpredictable the cryptocurrency market is.
