Yillio files new $220,000 equity financing round

yillioYillio expects to sell $220,000 worth of equity to investors in a non-brokered financing round. The equity offered hasn’t been subscribed yet by investors. Based on the information disclosed, the $220,000 offering is structured to remain open until February 2015 or when the fundraising cap is reached, whichever one comes first. The equity offering’s estimated net proceeds will amount to $150,000 which excludes $70,000 to be paid toward officers’ salaries. Up to now Yillio had raised an estimated $300,000 in unregistered securities via one previous financing round.

The company offers an online and mobile application (app) that allows users to discover, save and share merchants and gas stations offering promotions and deals based on their device’s GPS. The app is  free for users and available for iOS and Android. Yillio plans on monetizing the app on the merchant side.

M Reid Overcash (CEO) leads the Raleigh NC based company which was registered in 2012. Yillio elected to keep its revenues undisclosed.
The executive team includes Michael Wanyo, Tully Ryan and Vadim Droznin.
The board of directors includes Richard R Beaty and Robert K Adams.

Offering recap
Status: Launched
Company: Yillio
Industry: Other Technology
Amount offered: $220,000


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s