Overview

Brave Software, Inc. is an American software company founded in 2015 by Brendan Eich, the creator of JavaScript and co-founder of Mozilla, and Brian Bondy, a former Mozilla and Khan Academy developer. The company is headquartered in San Francisco, California, and focuses on enhancing user privacy and security through its suite of products, including the Brave web browser and Brave Search.

History

Founding and Early Development (2015–2016)

Brave Software was established in 2015 with the mission to improve web browsing speed and safety while increasing ad revenue share for content creators. In January 2016, the company released developer versions of its open-source, Chromium-based Brave web browser, which blocks advertisements and trackers by default. This approach aimed to provide users with a faster and more secure browsing experience.

Introduction of Basic Attention Token (2017)

In 2017, Brave introduced the Basic Attention Token (BAT), an Ethereum-based cryptocurrency designed to revolutionize digital advertising. Through an initial coin offering (ICO) on May 31, 2017, Brave raised approximately $35 million. BAT allows users to earn tokens by opting into privacy-respecting ads and enables them to support content creators directly.

Transition to Chromium and Expansion (2018–2019)

Initially built on a fork of Electron called Muon, Brave transitioned to the Chromium codebase in 2018 to reduce maintenance burdens and improve performance. This change resulted in a 22% performance improvement over earlier versions. In 2019, Brave released version 1.0 across all platforms, marking its readiness for mass adoption. The same year, the Brave Rewards system, integrating BAT, was launched, allowing users to earn tokens by viewing ads and support their favorite content creators.

Acquisition of Tailcat and Launch of Brave Search (2021)

In March 2021, Brave acquired Tailcat, an open-source, privacy-focused search engine developed by the team formerly responsible for the privacy search and browser products at Cliqz. This acquisition led to the development of Brave Search, which became the default search engine for Brave browser users in certain countries by October 2021. Brave Search emphasizes user privacy by not tracking users or their searches.

Introduction of Brave Leo (2023)

In November 2023, Brave introduced Brave Leo, a large language model-based chatbot integrated into the Brave desktop browser. Leo utilizes models such as Meta's LLaMA 2 and Anthropic's Claude to provide features like suggesting follow-up questions and summarizing webpages, PDFs, and videos. A premium version of Leo offers additional capabilities for a monthly fee.

Products

Brave Browser

The Brave Browser is a free, open-source web browser that blocks ads and trackers by default, enhancing user privacy and browsing speed. Built on the Chromium platform, it supports various operating systems, including Windows, macOS, Linux, Android, and iOS. The browser also features a private browsing mode that integrates the Tor anonymity network for enhanced privacy.

Brave Search

Brave Search is a privacy-focused search engine developed by Brave Software. Launched in June 2022, it became the default search engine for Brave browser users in select countries. Brave Search operates independently, without tracking users or their searches, and aims to provide unbiased search results.

Basic Attention Token (BAT)

The Basic Attention Token is an Ethereum-based cryptocurrency introduced by Brave to create a new digital advertising model. Users can earn BAT by opting into privacy-respecting ads and can use the tokens to support content creators directly. This system aims to provide a fairer revenue distribution between users, advertisers, and publishers.

Brave Leo

Brave Leo is an AI-powered chatbot integrated into the Brave browser, offering features such as suggesting follow-up questions and summarizing content. It utilizes large language models like LLaMA 2 and Claude to enhance user interaction and information retrieval within the browser.

Financials and Growth

As of late 2024, Brave reported servicing over 68 million monthly active users. The company's revenue model primarily revolves around its innovative advertising system and BAT transactions. In 2023, Brave reported revenues of $26 million, marking a 30% increase from $20 million in 2022. This growth is attributed to the BAT ecosystem and increased user engagement.

Privacy and Controversies

Brave Software emphasizes user privacy across its products. However, the company has faced criticism for certain practices. In 2020, it was discovered that Brave was appending affiliate referral codes to certain cryptocurrency exchange URLs typed into the browser's address bar. Following media attention, CEO Brendan Eich called the behavior a mistake and stated that the use of affiliate content would be made opt-in going forward. Additionally, in 2021, researchers reported that DNS queries for .onion addresses were being leaked outside of the Tor network due to a misconfiguration in Brave's private browsing mode. The company later patched the issue.

Future Developments

Brave continues to enhance its product offerings and expand its user base. The company is focused on developing privacy-preserving technologies and aims to provide users with a safer and faster web experience. Future developments may include further integration of AI technologies, expansion of the BAT ecosystem, and continued improvements to the Brave browser and search engine.