A total of $400,000 was raised by Zoobean as part of its $500,000 unregistered private placement. The non-brokered equity securities started to be bought by six investors last Thursday. Based on the offering’s structure, the company has until April 2015 to raise an extra $100,000. Two previous unregistered financing rounds raised an estimated $843,000. This last investment round was backed by Militello capital, and CIT GAP Funds. The company is also backed by Kapor Capital which is the investment arm of Kapor Center for Social Impact (formerly known as Mitchell Kapor Foundation). Kapor Capital invests in seed stage information technology companies which aspire to generate economic value and positive social impact.
Zoobean is an e-commerce bookstore geared toward children between the age of two and ten. The books are curated by a team of experts and cataloged by recommended age, relevant topics, characters’ backgrounds, and other tags that matter to families. The company offers a subscription service for $15 a month as well as direct sales.
Felix Brandon Lloyd (President) leads the Arlington VA based company which was registered in 2012. Zoobean elected to keep its revenues undisclosed.
The executive team includes Jordan Bookey.
The company has raised an estimated total of $1.24 million via private unregistered security offerings.
Status: First close
Industry: Other Technology
Amount offered: $500,000
Amount placed: $400,000
First sale: 04-17-2014
Data as of: 04-23-2014