Alchemy Success Story: The most powerful web3 developer products and tools with resources

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The popularity of Web3 is elevating continuously, and many companies, startups, and DAOs are searching for Web3 developers and blockchain developers. But what if we tell you that companies need not spend a fortune on hiring in-house skilled and experienced WEB3 and blockchain developers?

Yes, you heard it right! With advanced technological innovations, you can use promising Web3 development platforms. These platforms help developers with blockchain development. And Alchemy is one such globally recognized Web3 development platform.

A private company, Alchemy, is a blockchain scaling platform. Learn more about Alchemy, its startup story, founders, funding, investors, growth, products, patents, competitors, and more.


Company Highlights

  • Company Name-Alchemy
  • Headquarters-San Francisco, California, United States
  • Sector-Software Development
  • Founders-Nikil Viswanathan, Joseph Lau
  • Founded In-2017
  • Revenue-$10.2 B (2022)
  • Website-Alchemy.com

Alchemy - About

  • Alchemy offers the leading blockchain development platform empowering millions of users across 197 countries globally. With alchemy, companies can develop scalable and reliable decentralized applications without managing blockchain infrastructure in-house.
  • Headquartered in the U.S., it has $1.5 billion in royalties to NFT creators with 10+ million end users. Many projects in the space, such as Cryptokitties, Radar Relay, Augur, OpenSea, etc., depend on Alchemy to support their core infrastructure requirements.
  • Moreover, Alchemy invested its stakes in 2 leading companies- Soul Wallet and Shield.

Alchemy - Founders and Team

Nikil Viswanathan and Joseph Lau are the co-founders of Alchemy.

Nikil Viswanathan

  • Nikil Viswanathan completed Bachelor’s and Master’s in Computer Science from Stanford University. Presently, he is working as co-founder and CEO of Alchemy. He was a product manager intern at Facebook, a teaching assistant at Stanford University, and an Engineer at Starnik Systems Inc.

Joseph Lau

  • After graduating from Stanford University with B.S. and M.S. in Computer Science, Joseph Lau is the co-founder and CTO of Alchemy. He worked as an associate technology manager intern at Google, a teaching assistant at Stanford University, and a software engineer at Pinterest.
  • The team consists of engineers from MIT, Google, Stanford, Microsoft, and other startups. Alchemy currently employs over 200 employees.


Alchemy - Startup Story

  • Nikil Viswanathan and Joseph Lau had long ago figured out that software was the optimal way to reach people. But how to create the best impact was an open question. Both believed they found the answer to their question with Down to Lunch (a meet-up app), which was a hit initially, but the success soon halted.
  • It was in 2017 that Nikil and Joseph founded Alchemy. They figured out that the blockchain industry is rife with hype and uncertainty. They realized developers struggle to set up blockchain applications and need better tools. Thus, they came up with the idea of Alchemy to impact how the entire world uses money.
  • The company was publicly launched in August 2020. Since then, it has launched a venture capital arm- Alchemy Ventures, and an educational resource on blockchain development- Web3 University.


Alchemy - Mission and Vision

  • Alchemy’s vision is to bring blockchain to a billion people. Its primary aim is to provide developers with the fundamental building blocks to create the future of technology.


Alchemy - Business Model

  • Alchemy allows blockchain developers to securely create, test, and monitor decentralized apps (DApps). The platform provides developers with dependable network connectivity and node management endpoints.
  • Alchemy simplifies decentralized development and provides remote nodes with features like Nodes. It further allows developers to send real-time push notifications to users for important events based on blockchain activities and their NFT API. Moreover, Alchemy provides several services allowing developers to instantly find, verify, and display NFTs across multiple blockchains.


Alchemy - Revenue Model

  • Alchemy earns revenue by charging for compute units. The company offers three plans- Free, Growth, and Enterprise plan. The ‘Growth’ plan is available for $49/ month, and the ‘Enterprise’ plan can be customized.


Alchemy - Products and Services

  • Alchemy offers a diverse line of products, categorized into APIs, Chains, Alchemy SDK, and Tools. These products include Supernode, NFT API, SDK, Notify, Enhanced APIs, Monitor, Composer, Build, Transact, Spearmint, Transaction Simulation, Easy Mint, Account Abstraction, and more. In addition, Alchemy University enables participants to earn their web3 degree.


Alchemy - Funding and Investors

  • Alchemy has undertaken 5 funding rounds and has raised a total of $563.9 million. It conducted the latest funding round - Series C Round on February 8, 2022, and raised a total of $200 million. The company is backed by 53 top founders, institutions, and execs in the technology industry. The main investors are Pantera, Coatue, a16z, Redpoint, Stanford University, Coinbase, Mayfields, SignalFire, and Lightspeed.


Alchemy - Mergers and Acquisitions

  • Alchemy acquired 1 company, i.e., ChainShot, on August 25, 2022.

Alchemy - Patents and Trademarks

  • The company has 2 registered trademarks, with ‘Scientific and technological services’ being the most popular class.

Alchemy - Growth

  • With the company’s annual revenue estimated at $25.3 million per year ($125,845 per employee) in February 2022, its current valuation stands at $10.2 billion.
  • Alchemy’s employee figure increased by 134%. Moreover, the monthly website visits are over 1,095,000, with a site growth rate of 27.23%.

Alchemy - Partners

The company has partnered with the following:

  • DraftKings
  • Socket
  • Dream3
  • Galaxy
  • Polygon
  • API3
  • Arbitrum
  • Optimism
  • Tribe Accelerator

Alchemy - Awards and Achievements

  • Some of the awards that Alchemy garnered are:
  • 57 Most Promising Fintech Startups by Business Insider
  • Most Innovative Fintech Companies by Forbes
  • 10 Most Promising Crypto Startups by Business Insider
  • Fintech 50 2021: The New Commers by Forbes
  • Fintech 250: 2022 by CBIInsights

Alchemy - Competitors

Here are some of its main competitors:

  • Kaleido
  • Amazon Managed Blockchain
  • Chainstack
  • BlockCypher
  • Azure Blockchain Workbench
  • IBM Blockchain Platform
  • Coinbase Cloud
  • Blockstream

Alchemy - Future Plan

  • The firm plans to double down on its commitment to meet developer needs in more places, making it much easier to unlock the potential of web3. Moreover, Alchemy is thinking of using its new capital toward high-quality hiring.


FAQs

When was Alchemy founded?

  • Alchemy was founded in 2017.

Who are the founders of Alchemy?

  • Alchemy was founded by Nikil Viswanathan and Joseph Lau.

What does Alchemy do?

  • Alchemy is a Web3 development platform that helps developers with blockchain development. With alchemy, companies can develop scalable and reliable decentralized applications without managing blockchain infrastructure in-house.

Who are the main competitors of Alchemy?

Here are some of Alchemy's main competitors:

  • Kaleido
  • Amazon Managed Blockchain
  • Chainstack
  • BlockCypher
  • Azure Blockchain Workbench
  • IBM Blockchain Platform
  • Coinbase Cloud
  • Blockstream