Late filer Vostu completed a $450,000 equity offering


vostu 2Late filer Vostu sold a total of $450,000 in a brokered equity investment round. The transaction which started a few months ago, garnered the support of sixteen investors. The private placement’s expected net proceeds amounts to $420,000 which excludes $30,000 paid in brokerage fees. The company closed five previous unregistered private placements which raised an estimated $48.72 million. The company is backed by early investor Intel Capital, General Catalyst Partners, Accel Partners and Tiger Technology Global Management.

Vostu is a social gaming company with a focus on the Latin American market. It released in 2009 its first game called “Joga Craque”, a role playing game (RPG) featuring Brazilian soccer players. The company has since then launched multiple games (Mini Fazenda, Café Mania, MegaCity, Vostu Poker, Rede do Crime, Pet Mania) on Orkut, the Brazilian social network as well as on Facebook, MSN and their own platform. The company has been referred to as the Zinga of Brazil.

The company, headquartered in New York NY, is led by Daniel Kafie (CEO). Vostu elected to keep its revenues undisclosed.

The company has raised an estimated total of $49.17 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: Vostu
Industry: Other Technology
Amount offered: $450,000
Amount placed: $450,000
First sale: 2013-11-27

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