A first close of $278,000 was initiated by AppTrends on its fundraising effort started this month. 28% of the $1 million non-brokered mezzanine offering was placed with two investors. The private placement will remain open for a year while an additional $722,000 is raised by the company. It is the first time the company is raising funds on the private placement market.
The company is developing a platform to bridge the gap between app developers and app users. Think social discovery where common interest brings developers, looking for a subject-appropriate consumer audience, with users who are looking for apps for a given subject. The platform will serve over 200 ecosystems & categorial niches. The app hasn’t been released yet.
Michael Velasquez (President) leads the Carson City NV based company which was registered in 2012. AppTrends elected not to disclose its revenues.
Status: First close
Amount offered: $1,000,000
Amount placed: $278,000