Postelio, Inc. announced a first close of $250,000 on its expected $1 million equity offering. The amount was raised from one investor via a non-brokered placement of preferred stocks. This is the first known US private financing completed by the company.
Postelio is an online and mobile platform that allows users to socially discover and buy products sold by local stores. The company for now focuses on fashion related products ranging from clothes to accessories. Users can take a picture, add information and share it to get a second opinion from their friends. Postelio also provides users with insight on trends around them and provides suggestions of deals and local boutiques carrying exclusive items. While the user facing application (app) is free, Postelio plans to monetize the app on the merchant side by offering services such as campaigns, loyalty program and data on what users like. In other words it is a mash-up of FOMO Media meets ROXIMITY meets SupportLocal meets tengrade meets Yabbly, all of which raised money over the past month. The app is currently in beta and can be tested by select customers by invitation only.
Postelio, headquartered in Santa Clara CA, was founded in March 2012 by Saif Kantrikar (CEO). The company has less than ten employees, its executive team includes Amit Parikh.