Latest / IMI Podcasts / CitizenX Acquires Plan B Passport
Transcript
- 0:00SPEAKER_00: CitizenX, a Swiss tech-driven investment migration firm backed by venture capitalist Tim Draper, has acquired Plan B Passport.
- 0:08SPEAKER_00: This marks the second major public acquisition in the investment migration industry within two years, following BLS International's$31 million purchase of Citizenship Invest in September 2024.
- 0:21SPEAKER_00: Founded by Katie the Russian Anna Nina, Plan B Passport specializes in helping clients obtain second citizenships to reduce dependency on their home countries.
- 0:31SPEAKER_00: The firm has built its reputation on assisting cryptocurrency investors and freedom-focused individuals in navigating citizenship by investment programs worldwide.
- 0:40SPEAKER_00: The company has promoted what they call the sovereign individual thesis, encouraging nations to compete for citizens by offering better services and conditions.
- 0:50SPEAKER_00: The acquisition will add Plan B passport services to Citizen X's existing operations.
- 0:56SPEAKER_00: According to the announcement, the combined entity offers access to over 25 citizenship and residency programs worldwide, including Caribbean citizenship by investment programs and European Golden Visas.
- 1:09SPEAKER_00: Anna Nina joins Citizen X as chief marketing officer.
- 1:13SPEAKER_00: She brings over 50,000 followers from X.com, formerly Twitter and her team of digital marketers, operators, and citizenship specialists.
- 1:22SPEAKER_00: Quote, I started Plan B Passport to help my friends on Twitter get their Plan B passports, Anna Nina notes.
- 1:29SPEAKER_00: Now, with the scale and technology behind Citizen X, we're the loudest, most trusted voice in this game, and will bring it far beyond my Twitter following.
- 1:37SPEAKER_00: End quote.
- 1:38SPEAKER_00: The deal emerged from direct founder discussions where they reviewed financials, aligned on company values, and established goals before reaching an agreement.
- 1:47SPEAKER_00: Citizen X notes that Plan B Passport's philosophy of limiting dependency on any single state through second passport acquisition aligns with Citizen X's focus on passport portfolio diversification.
- 1:59SPEAKER_00: While CitizenX did not disclose the financial terms or acquisition value, Anna Nina confirmed the companies base the transaction on pure value rather than e bit da multiples.
- 2:10SPEAKER_00: She did not share the exact figure.
- 2:12SPEAKER_00: Alex Ricuso, CEO of Citizen X, points to the complementary strengths that motivated the acquisition.
- 2:20SPEAKER_00: He explains that Katie and Plan B bring a fearless energy we admire, and that Plan B passports' dominance in the world of bits and industry expertise supercharge our vision.
- 2:31SPEAKER_00: Citizen X's official announcement highlights that Plan B's approach includes Bitcoin-friendly services, which could be a reason for the merger, as it potentially creates a new avenue for cryptocurrency investors seeking citizenship options.
- 2:46SPEAKER_00: All team members from Plan B Passport will transition to Citizen X, as Anna Nina confirms there will be no man left behind.
- 2:54SPEAKER_00: The Plan B brand will continue temporarily until news of the acquisition spreads more widely.
- 3:00SPEAKER_00: In the joint statement, Ricuso indicates the combined company aims to create, quote, new ways for countries to fundraise directly from citizens while helping more people secure their freedom.
- 3:12SPEAKER_00: End quote.
- 3:14SPEAKER_00: This episode first appeared as an article by Ahmad Abbas on IMIDaily.com.
- 3:20SPEAKER_00: Subscribe for free to the IMI newsletter for breaking news and updates from the investment migration industry, and upgrade your membership to IMI Pro to get access to our exclusive professional community, citizenship catalog, investment migration company Rolodex, private briefings, and more members only content.