Social discovery GPS app raised $95,000 in debt


Yillio, Inc. hit the market with a $300,000 debt offering placing a third with four investors. This is the first known US private placement initiated by the company. The offering will remain open for a year.

The company offers an online and mobile application (app) that allows users to discover, save and share merchants and gas stations offering promotions and deals based on their device’s GPS. The app is  free for users and available for now on iOS. Yillio plans on monetizing the app on the merchant side. A few companies we covered over the past month come to mind as competitors such as Postelio (specialized in apparel and accessories), FOMO Media and ROXIMITY.

Yillio, headquartered in Edenton NC, was founded by Tully Ryan (President and CEO) in October 2011. The executive team includes Vadim Droznin (CIO) and Reid Overcash (Marketing).

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3 comments

  1. Pingback: Gas station mobile app completes placement of $50,000 mezzanine offering with one investor | Random Research
  2. Pingback: First close of $170,000 announced by Xooker on its $300,000 offering | Random Research
  3. Pingback: Yillio files new $220,000 equity financing round | Random Research

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