Tagged: social discovery

Firefly launched a $500,000 mezzanine financing


fireflyWorldwide Networks (DBA Firefly) is in the market with a $500,000 non-brokered mezzanine placement. The placement, which hasn’t started to sell, is structured to close in May 2015 or once the placement is fully subscribed. The mezzanine offering’s estimated net proceeds will amount to $440,000 which excludes $60,000 to be paid toward officers’ salaries. This is the first time the company is filling a security offering under a registration exemption with the SEC.

The company developed and will launch an online dating platform that unlike its counterparts is focusing on introducing a small number of singles to one another. The social platform targets friends of friends, in other words singles that have a friend in common.

Clayton Spencer (CEO) leads the New York NY based company which was registered in 2013. Worldwide Networks kept its revenues undisclosed.

The executive team includes Jonathan Kieliszak.

Offering recap
Status: Launched
Company: Worldwide Networks
Industry: Other Technology
Amount offered: $500,000
Data as of: 05-02-2014

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Subscription launched one month ago for serendipity social network Intermingl Co.’s $1 million financing round


interminglAfter launching a $1 million convertible promissory note investment round, Intermingl Co. started to receive one month ago commitments amounting to $95,000 from two investors. So far the company raised 10% of its non-brokered security offering according to the data disclosed. An additional $905,000 in funding is to be raised until the offering draws to a close in February 2015. No offering was previously initiated by the company under a registration exemption with the SEC.

The company is developing a professional networking platform targeted at events (and endorsed by event organizers) and provides tools to build relationships with, and remember the interesting people within the event, long after the event itself is over. The platform leverages Facebook, LinkedIn or Twitter and automatically imports profiles. A comparison analysis is available on the company’s blog. Random Research covered offerings initiated by HereOnBiz and Anomo.

The company, headquartered in Wilton CT, was registered in 2014 and is lead by Oji Udezue. No revenues were reported by the company.
The board of directors includes Ezinne Udezue.

Offering recap
Status: First close
Company: Intermingl Co.
Industry: Other Technology
Amount offered: $1 million
Amount placed: $95,000
First sale: 02-27-2014
Data as of: 03-24-2014

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

Social network for parents initiates first close on its mezzanine offering


BloomzA first close of $576,000 was initiated by Bloomz on its fundraising effort. 58% of the $1 million non-brokered mezzanine offering started to sell on January 13th 2014. Thirteen investors subscribed to the placement so far. It is the first time the company is raising funds on the private placement market.

The company develops a secure invite-only social network platform for parents to simplify their lives by consolidating in one place all their children’s events ranging from school and extra curricular activities to friends. It lets users coordinate and manage schedules and opens the door to collaboration and communication with other parents, teachers, and coaches. The application (app) has been designed for mobile devices running on iOS.

Chakrapani Appalabattula (President) leads the Redmond WA based company which was registered in 2013. Revenues were not disclosed.

Offering recap:
Status: First close
Company: Bloomz, Inc.
Industry: Other Technology
Amount offered: $1 million
Amount placed: $576,000
First Sale: 01/13/14

Social discovery platform for developers and app users announces first close of $278,000


A first close of $278,000 was initiated by AppTrends on its fundraising effort started this month. 28% of the $1 million non-brokered mezzanine offering was placed with two investors. The private placement will remain open for a year while an additional $722,000 is raised by the company. It is the first time the company is raising funds on the private placement market.

The company is developing a platform to bridge the gap between app developers and app users. Think social discovery where common interest brings developers, looking for a subject-appropriate consumer audience, with users who are looking for apps for a given subject. The platform will serve over 200 ecosystems & categorial niches. The app hasn’t been released yet.

Michael Velasquez (President) leads the Carson City NV based company which was registered in 2012. AppTrends elected not to disclose its revenues.

Offering recap:
Status: First close
Company: Apptrends
Industry: Other
Amount offered: $1,000,000
Amount placed: $278,000

Social discovery app for business connections raised $360,000


Hereonbiz, Inc. successfully completed its $360,000 offering of convertible promissory notes. The non-brokered placement was initiated more than three months ago. This is the first known offering initiated by the company on the US private placement market.

The company developed a mobile application (app) for iOS that focuses on empowering business professionals to see other professionals around them, make connections, chat, and meet on the spot.

A similar social discovery app named Anomo was in the market in late June and raised $305,000. While Anamo’s primary market is dating, that app can be used to make business connections as well. The app garnered an estimated $800,000 in financing.

The company, headquartered in Calabasas CA, was registered in 2012. No revenues were reported for the latest fiscal year. The executive team includes Nicholas “Nick” Smoot (Founder, Marketing), Allen Hartwig ( Founder, Product CTO) and Dom Vonarburg (Founder, Infrastructure CTO).

Offering recap
Status: Completed/Final close
Company: Hereonbiz, Inc.
Industry: Other
Amount offered: $360,000
Amount placed: $360,000

Reconiz, Inc. raised $15,000 from one investor via debt issuance


$15,000 was successfully placed by Reconiz, Inc. with one investor as part of a $50,000 debt fundraising effort initiated this month. The company expects to raise an additional $35,000 to close the offering within a year. This is the first known offering initiated by the company on the US private placement market.

The company developed an entertainment photo sharing and discovery application (app) for mobile phones that let’s users share and create stories around the most famous images in entertainment and discover the trending topics being discussed in the celebrity space. The app is in beta testing and is still accepting beta users.

The company, headquartered in West Hollywood CA, was founded in January 2013. It is lead by Andrew Toltzis (CEO) and the executive team includes Mike Toltzis.

Offering recap:
Status: First close
Company: Reconiz, Inc.
Industry: Other
Amount offered: $50,000
Amount placed: $15,000

Social discovery GPS app raised $95,000 in debt


Yillio, Inc. hit the market with a $300,000 debt offering placing a third with four investors. This is the first known US private placement initiated by the company. The offering will remain open for a year.

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 now on iOS. Yillio plans on monetizing the app on the merchant side. A few companies we covered over the past month come to mind as competitors such as Postelio (specialized in apparel and accessories), FOMO Media and ROXIMITY.

Yillio, headquartered in Edenton NC, was founded by Tully Ryan (President and CEO) in October 2011. The executive team includes Vadim Droznin (CIO) and Reid Overcash (Marketing).

Local social shopping app raised $250,000 in seed financing


Postelio, Inc. announced a first close of $250,000 on its expected $1 million equity offering. The amount was raised from one investor via a non-brokered placement of preferred stocks. This is the first known US private financing completed by the company.

Postelio is an online and mobile platform that allows users to socially discover and buy products sold by local stores. The company for now focuses on fashion related products ranging from clothes to accessories. Users can take a picture, add information and share it to get a second opinion from their friends. Postelio also provides users with insight on trends around them and provides suggestions of deals and local boutiques carrying exclusive items. While the user facing application (app) is free, Postelio plans to monetize the app on the merchant side by offering services such as campaigns, loyalty program and data on what users like. In other words it is a mash-up of FOMO Media meets ROXIMITY meets SupportLocal meets tengrade meets Yabbly, all of which raised money over the past month. The app is currently in beta and can be tested by select customers by invitation only.

Postelio, headquartered in Santa Clara CA, was founded in March 2012 by Saif Kantrikar (CEO). The company has less than ten employees, its executive team includes Amit Parikh.

Location based anonymous social network gets $305,000 equity financing


Anomo, Inc. announced the first close of its $400,000 non-brokered equity offering. The company placed $305,000 with one investor which brings to $700,000 the total estimated amount raised via equity issuance since 2012. According to an article published by GeekWire, Amit Mital and Lee Zehrer are among the company’s backers.

The company developed a mobile social network where users create avatars to get to know each other based on their interests as opposed to what they look like. A practice coined as “social discovery”. While the primary application of the network revolves around dating, it can also be used in a number of different ways including making business connections. The application (app) is location based (instead of proximity based) which means users can interact with one another at an exact location. Downloads are available for iOS and Android. It is unclear how the company intends to monetize the app though Pirq CEO, James Sun is a financial backer and on the executive team.

The company, headquartered in Bellevue WA, was founded in December 2011 by Benjamin Liu. The executive team includes David Hajdu as well.