Re-commerce platform, uSell.com, disclosed reaching its $300,000 fundraising target


usellAccording to information filed with the SEC, two investors participated on March 13th to uSell.com’s equity fundraising. The non-brokered private placement was fully subscribed and raised $300,000. A total of five unregistered securities offerings closed by the company raised an estimated $13.46 million (equity issued in relation to M&A transaction not included). The company trades on the OTC market under ticker “USEL”.

The company developed and markets a virtual marketplace for people to sell used smart phones and electronics such as iPads, tablet readers and even video games to established, trusted professional buyers. The site helps customers find out what their used electronic devices are worth, find a buyer, and sell them quickly and safely without hidden cost or having to go to the post office.

The company, headquartered in New York NY, is led by Daniel Brauser (CEO). Revenues reached $4 million for the nine months ended September 30th 2013.
The executive team includes Jennifer Calabrese, Michael Brachfeld, Michael Brauser and Nik Raman.
The board of directors includes Douglas Feirstein, Grant Fitzwilliam and Scott Frohman.

The company has raised an estimated total of $13.76 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: Usell.com
Industry: Other
Amount offered: $300,000
Amount placed: $300,000
First sale: 03-13-2014
Data as of: 03-26-2014

Advertisements

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 )

Twitter picture

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

Facebook photo

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

Google+ photo

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

Connecting to %s