Social rating tool raised $570,000 via an equity private placement

tengrade, Inc. completed a partial close of its $1 million equity offering, placing 57% of the total amount with 10 investors. The company is looking for at most thirty additional investors for the  placement which will remain open for a year. This is the first known non-brokered US private placement initiated by the company.

The company developed a platform which aims to become the world’s central repository for popularity ratings. Users can rate on a scale from 1 to 10 anything they are interested in and share and compare their opinion with their friends and connections. tengrade created a visualization tool called the the “tornado” which allow viewers to instantly assess likes and dislikes of the world, their connections as a group or as individuals  and of course their own.

tengrade, headquartered in New York City, was founded in April 2010 by Stuart Strumwasser (President) and Ted Werth (CEO). The company was originally founded as tengrade LLC and was merged out into tengrade, Inc. at the beginning of the month.


One comment

  1. Pingback: Local social shopping app raised $250,000 in seed financing | Random Research

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