Gee Beyond Parent is in the market with a $10 million non-brokered mezzanine offering. The offering is expected to close within a year. It is the first time the company is raising funds on the private placement market.
Gee Beyond Parent, is the parent company of Gee Beyond Holdings the entity that bought back the assets of bankrupt Beyond Oblivion in early 2012. The company’s plan at the time was let digital right management protected music files to proliferate on file sharing networks. Now the company is back with a product called “boinc” which runs on an unusual business model, replacing paid-download, paid-subscription and advertiser-supported services with an inexpensive, one-time license fee that gives users a lifetime of device usage. The fee is actually included in the price of the device. The company is launching its product in select countries in Latin America before deploying globally.
The company, headquartered in New York NY, was registered in 2012. Gee Beyond Parent elected not to disclose its revenues. The executive team includes Ronald “Ron” Garriques (CEO), Carter Brown (CFO), Brad Yuan (COO) and Dmitry Grinberg (CTO). The board of directors includes Gregory Benson, Andrew Berman and Michael Singer.
Company: Gee Beyond Parent
Industry: Other Technology
Amount offered: $10M
Amount placed: $0