First close of $401,000 announced by the developer of iJukebox on its $500,000 offering


DisruptiveApps, Inc. successfully placed 80% of its $500,000 non-brokered equity offering with sixteen investors as part of a funding agreement signed this month. The company expects to raise an additional $99,000 to close the offering within a year. The company raised an estimated $2.25 million via two offerings until now. The company is backed by ARC Angel Fund which invests in seed and early-stage companies with high growth potential.

DisruptiveApps develops and markets a business to business (B2B) application programming interface (API) platform called iJukebox which enables retailers to deliver licensed in-store digital music and content to their customers while letting them vote for songs to be moved up or down the queue. The app allows retailers and advertisers to market to an engaged audience and provides customers with personalized entertainment options.

Jonathan “Chip” W. Selley (Co-founder and President)  leads the Boston MA based company which was registered in 2011. DisruptiveApps elected not to disclose its revenues. The executive team includes Dennis Rivera (Co-founder and VP Operations, Finance and Corporate Strategy). The board of directors includes Justin P. Morreale and Richard L. Smith

Offering recap:
Status: First close
Company: Disruptiveapps, Inc
Industry: Other Technology
Amount offered: $500,000
Amount placed: $401,000

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