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§ Private Profile · Fairfax, VA, USA
OB1 is a technology company.
OB1 develops OpenBazaar, a decentralized marketplace for global, permissionless commerce. The platform operates as a peer-to-peer network, leveraging blockchain technology to facilitate direct, private transactions between buyers and sellers. This architecture distributes control, prevents censorship, and ensures tamper-proof operations, integrating multi-signature escrow for secure exchanges.
Founded in 2015 by Sam Patterson and Washington Sanchez, OB1 originated from the insight that online commerce could be democratized by removing traditional gatekeepers. Their vision was to empower global individuals to trade directly, bypassing conventional marketplace fees and restrictions. They recognized blockchain and peer-to-peer technologies offered an open-source, distributed network for digital autonomy.
OpenBazaar serves individuals and businesses prioritizing private, secure online trading via direct peer-to-peer interactions, independent of centralized oversight. OB1’s long-term vision focuses on fostering a global ecosystem of unrestricted trade, accessible and free from surveillance or censorship. The company aims to expand decentralized e-commerce, championing user empowerment and digital freedom.
OB1 has raised $12.0M across 4 funding rounds.
OB1 has raised $12.0M in total across 4 funding rounds.
# OB1: A Bitcoin-Based Decentralized Marketplace
OB1 is a software company building a Bitcoin-based decentralized peer-to-peer marketplace designed to eliminate intermediaries from commerce.[2] The company's core mission is to "make trade free for everyone, everywhere" by democratizing commerce through a decentralized network where users can directly buy and sell without traditional middlemen.[2][3] Based in Fairfax, Virginia, OB1 operates as a lean organization with 9 employees and $6 million in revenue.[1]
The company addresses a fundamental problem in digital commerce: the reliance on centralized platforms that extract fees, control user data, and gatekeep market access. By leveraging Bitcoin and peer-to-peer architecture, OB1 aims to shift power back to individual traders and reduce the friction costs inherent in traditional e-commerce platforms.
OB1 operates at the intersection of two significant trends: the growing skepticism toward centralized platform monopolies and the maturation of Bitcoin as a settlement layer for commerce. The company's timing aligns with increasing interest in decentralized finance (DeFi) and alternative payment systems that bypass traditional financial intermediaries. By building marketplace infrastructure on Bitcoin rather than proprietary blockchains, OB1 positions itself within the broader movement toward sovereign, censorship-resistant commerce tools.
OB1 represents an ambitious attempt to reimagine e-commerce through decentralization, though the company's modest scale (9 employees, $6 million revenue) suggests the practical adoption of peer-to-peer Bitcoin marketplaces remains limited. The company's success will depend on whether users prioritize fee elimination and decentralization over the convenience, trust mechanisms, and network effects that established platforms provide. As Bitcoin adoption evolves and merchants seek alternatives to high-fee payment processors, OB1's infrastructure could become increasingly relevant—but only if it can solve the user experience and liquidity challenges that have historically limited decentralized marketplace adoption.
OB1 has raised $12.0M across 4 funding rounds. Most recently, it raised $5.0M Series A in March 2018.
OB1 has raised $12.0M in total across 4 funding rounds.
OB1's investors include OMERS Ventures, Accel, ACME Capital, Bora&Sons, Comcast Ventures, Earth and beyond ventures, Flybridge, Great Oaks Venture Capital, Heartcore Capital, Outlander Labs, Passion Capital, Practical Venture Capital.