Google Reader + Basecamp + WordPress = Needly which closed on $988,000 financing


Needly, Inc. announced the completion of its $988,000 non-brokered fundraising effort which was initiated in February. Three investors subscribed to the equity issuance. The company is tapping into the US private offering market for the first time. The equity offering’s expected net proceeds amount to $888,000 excluding $100,000 earmarked for the payment of officers’ salaries.

The title says it all. Needly is a service that aims to enhance user’s experience to follow feeds (Google Reader), collaborate in small groups (Basecamp), and build “drag and drop” professional looking web sites (WordPress). While the basic package is free, the company offers two other options at $19 and $99 per month.

The company is headquartered in Santa Monica CA. Needly, Inc. elected not to disclose its revenues. The executive team includes Fred Krueger (Founder and CEO) , Ben Nunemaker (Founder and CTO), Antony Van Couvering (CEO of Top Level Domain Holdings) and Brian W. Seidman (Corporate Development).

Offering recap:
Status: Completed/Final close
Company: Needly, Inc.
Industry: Other Technology
Amount offered: $988,000
Amount placed: $988,000

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