A first close of $60,000 was initiated by Bellybaloo on its fundraising effort started this month. 15% of the $400,000 non-brokered unit offering was placed with three investors. The company has a year to raise an additional $340,000 in funding. A previous private placement initiated by the company raised an estimated $400,000.
The company leverages the social network culture by offering a secure platform for expecting mothers to share medical-grade ultrasound pictures with their family and friends. The e-mail address entered by the sonographer in the ultrasound machine allows the mother to create an account on Bellybaloo’s platform. It takes between 30 minutes to 7 days to receive and share the images. The company monetizes its service by emailing users useful information from its sponsors.
Adam J. Wolfberg (President) leads the Boston MA based company which was registered in 2011. Bellybaloo elected not to disclose its revenues.
The board of directors includes James “Jamie” H. Mallinger (Treasurer and secretary) and William McCurdy.
Status: First close
Industry: Other Health Care
Amount offered: $400,000
Amount placed: $60,000