According 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.
Amount offered: $300,000
Amount placed: $300,000
First sale: 03-13-2014
Data as of: 03-26-2014