IP Street re-opened its offering to place $574,000 more


Change: offered +21% / raised +21% / placed 100%

ip streetIP Street re-opened and closed its unregistered equity offering after increasing the placement’s size from $2.73 million to $3.31 million. The offer closed after the company raised $574,000 from four additional investors within a little over six months. At closing, a total of twenty-three investors had subscribed to IP Street’s offering. The offering structure suggests it should have closed on December 18th 2013. The company closed three unregistered private placements which raised an estimated $4.21 million.

The company designed a web-based application (app) for the analysis and comparison of intellectual property (IP) assets. The application allow users to compare companies IP portfolios side by side, for a specific technology or for the entire portfolio. The cloud app gives access to ten million plus US (USPTO) and international (PCT/WIPO) patents and simplifies searches with concept search using latent semantic indexing. Visualization tools and graphical reports are part of the package as well. The company offers single or multi seats annual licenses.

The company, headquartered in Spokane WA, is led by Stu Stiles (CEO). IP Street kept its revenues undisclosed.
The executive team includes Lewis C Lee, Steve Rector and W Stacey Cowles.
The board of directors includes Dennis Hopton, George Nethercutt and Kevin Cable.

The company has raised an estimated total of $7.52 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: IP Street
Industry: Other Technology
Amount offered: $3.31 million
Amount placed: $3.31 million
First sale: 12-18-2012
Data as of: 04-02-2014

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