FOMO Media LLC raised $160,000 in equity from four investors as part of a $400,000 direct offering. The company placed successfully a prior $100,000 equity offering in September 2012 from two investors.
FOMO Media LLC, founded in June 2012, is a social marketing and promotion start-up based in Portland, Oregon. The company currently markets the FOMO Sonar application which enables businesses to create and manage promotions specifically for mobile devices. The app leverages the customers’ device location to show promotions of businesses in the area that release exclusive deals, content and information. The “sonar” application is available for the iPhone operating system as well as Android. It is free for customers to download. The “ping” or beacon application for businesses to broadcast their deals is available for a fee. The company offers a “pro” version that retails for $30 and an “enterprise” solution that offers more features and flexibility and which price is not disclosed. After all, the name says it all as FOMO is an acronym for the “fear of missing out”!
The company is lead by Richard “Rick” Sheinin (CEO), Shams Barnhard (President), Andrew Clayton (CMO – Chief Marketing Officer), Mathew Wallrath (Enterprise Business Manager), Scott Kleiner and Nicky Wilks.