Relationship compatibility app in the market for $1 million in equity

Late filer AppPowergroup launched an equity fundraising effort back in late April for $1 million. The company successfully placed at that time 6% of its non-brokered offering with one investor. This was the first time the company was raising money on the private placement market.

The company is the developer behind the “Love shopping list” an iOS application. The app, available for download for $4.99, tells users whether their relationship is “a stretch,” “a match made in heaven” or something in between, no matter what the stage of their relationship is. Best of all, the app links directly to existing iOS contact records for connections via phone, text, email, and mapping…just so it is really effortless for users and take the guessing game out of the equation. A version for Android is in the work.

Dr. Andrew “Drew” G. Yellen (President/CEO) leads the Porter Ranch CA based company which was registered in 2012. AppPowergroup reported revenues on or below $1,000,000 for the latest fiscal year. The board of directors includes Thomas Joseph Ward (CTO).

Offering recap:
Status: First close
Company: Apppowergroup
Industry: Other Technology
Amount offered: $1 million
Amount placed: $55,000


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