Wachsman opened its doors in 2015 as one of the first businesses supporting bitcoin entrepreneurs planning to rewrite the rules of the global economy. The communications-based strategy consultancy had a growing base of marquee clients in the expanding blockchain sector, including Dash, Cardano, Stellar, Cosmos, and Chainlink. “What was a $6 billion-dollar industry when we started has now eclipsed $1 trillion dollars in market capitalization,” says founder and CEO David Wachsman.
Wachsman knew the technology was game-changing. But there were barriers to it achieving critical mass, like misinformation, misunderstanding, and the market’s overall lack of awareness. So, he took a different approach to starting and running the agency, securing clients in every aspect of the cryptocurrency business, including a secured crypto vault company, bitcoin ATM network, bitcoin wallet company, and venture capitalists. Instead of primarily going to reporters to pitch client stories, reporters would seek out the agency as a resource to report on the industry.
Some of these companies ultimately grew into billion-dollar businesses. In parallel, the agency grew from Wachsman himself to 65 employees across three continents, with headquarters in New York, Dublin, and Singapore.
ADVISORS TO THE NEW GENERATION OF TECH FOUNDERS
“We were the first agency to bring traditional reputation management and strategic
communications to a nascent, nontraditional industry that was calling out for those professional services,” Wachsman says. The consultancy evolved with the industry, so initial standalone PR projects for startups turned into comprehensive offerings like investor relations, market entry, and regulatory affairs advising. The agency expanded its services to match the burgeoning industry’s needs.
By the time the agency was a few months old, the team was still more experienced than anyone else in that sector, Wachsman says. Five years after its founding, and with staff split between three international offices, the firm still have a close-knit team with a strong track record.
In addition to experienced public relations professionals, Wachsman hires reporters, data analysts, bankers, and management consultants, educating them in complex financial and technological topics when required. The firm strives to retain its “first-mover advantage” and remain a preferred choice for emerging companies in this space, he says. Referrals from current clients, media, venture capitalists, and law firms make up almost all new business.
MOVING BEYOND BLOCKCHAIN
Through its initial work with blockchain companies, Wachsman says the agency became known for navigating reputational challenges and opportunities from disruptive innovation. The firm expanded to provide integrated strategy consultancy across other emerging technology sectors, like banking and financial services.
Their target clients are “fearless companies prepared to operate in the unknown, where there’s uncertainty in the market,” Wachsman says. “Our team loves a complex project. True disruption is never easy.”