LEXIT, an Estonian startup developing network-based mergers & acquisitions solutions, last week unveiled its Ethereum blockchain powered marketplace. On LEXIT, appraisers, industry-specific experts, and other independent third-party agents are incentivized to match buyers and sellers. According to LEXIT CEO Amir Kaltak, with a professional network in place, analyzing buyer’s needs while understanding the seller supply side, deals are facilitated faster, more efficiently, and cheaper than ever before.
Amir Kaltak, LEXIT CEO, and co-founder presented the LEXIT Marketplace at Web Summit 2017 stating:
“More than 95% of all startups vanish prematurely, taking invaluable knowledge and great ideas with them. The remaining 5% often pivots radically during their lifecycle, abandoning amazing tech on their way to success. Even successful mid-tier startups struggle to find exit strategies that reflect their true value. LEXIT’s goal is to help all of them utilize their technology, putting it a new and successful context.”
“With millions of businesses forming and disintegrating annually, buyers and sellers have an unbelievable hard time to find each other and to negotiate fairly. This results in imperfect flows of information, high mediation costs, and expensive overhead, which render Merger & Acquisition processes extremely complicated.”
Addressing an international audience in Lisbon, Kaltak explained the importance of re-inventing traditional M&A workflows:
“To solve this, LEXIT introduces blockchain-based tokenization models which allow the company to maintain an independent network of industry-specific specialists and appraisers, which then compete to provide evaluation and assessment services to buyers and sellers alike.”
“In today’s system, mediators serving as middlemen, enjoy a highly privileged position resulting in restricted markets, slow processes, and high costs. Blockchain technology allows us to turn the table on this relationship.”
LXT is the platform’s cryptographic token facilitating the network dynamics behind the LEXIT solution. The token will be offered towards the end of 2017 in a publically accessible distribution event.
