Studio6, Inc., AKA Yabbly, raised 53% of its $1 million mezzanine financing. The company placed the non-brokered offering with twelve investors and raised an estimated $1.5 million in debt and mezzanine instruments thus far.
Yabbly developed a social platform for decision making. Users post their questions, they get matched with members that went through the process or own the product and can help. The aim is to bring a touch of humanness to product reviews and help users with the decision making process. The service is available through the web and a free iOS mobile application. The company expects to monetize the platform through sponsored content, offers and premium subscriptions.
Random Research recently published a story on SupportLocal LLC a competitor which is developing a social platform for reviews and launched a $800,000 convertible promissory note offering.
Yabbly, headquartered in Seattle WA, was founded in April 2012 by Thomas “Tom” Leung (President and CEO), Ian Shafer and Steven R. Neuman.