Leafit, Inc. announces Private Placement Offering as the next phase after breaking investor request records at crowd funding site Fundable.com. Leafit provides users the ability to monetize their own content through patent pending social media technology.
Coeur d’Alene, Idaho / ACCESSWIRE / Aug 7, 2014 / Leafit, Inc., a social media company with over 50,000 members, announces the release of their private placement offer to raise $1.41 million in equity financing. The Company has created the world’s first social networking platform that allows its users to instantly monetize their pictures and content with the click of a finger.
Leafit combines some of the most significant and desired elements of internet monetization techniques in what experts call the “Holy Grail” of online revenue models, the convergence of social networking, search and eCommerce. This concept is being actively pursued by giants such as Facebook and Google, and is seen as a significant part of their future revenue growth, but these companies won’t be able to use Leafit’s methods since Leafit’s underlying technologies and processes are patent pending.
The Company’s “it” app is the platform that brings all of this together. After posting pictures in the app, users can tag products and services contained in those pictures and the “it” app automatically searches nearly 20,000 registered partner eCommerce sites for the lowest price of those products and services. If another user likes products or services in a picture, she has the option to purchase them in-app from the connected retailers that offer those products or services. The user who originally tagged the content that resulted in a purchase earns a commission.
The iPhone version of the “it” app is scheduled for debut on Apple’s App store the week of August 4, 2014. Leafit will use proceeds of the funds primarily to continue development of the “it” app for desktop and Android devices. Lawrence Sowell, Leafit’s Co-founder and CEO comments, “We are projecting to be cash flow positive by the end of Q3 this year, but we wanted to continue the momentum and fast-track development of our flagship product for other operating systems and devices based on the incredible reception we’ve already received in the market.”
Leafit has gained significant media attention and will be featured on Hall of Fame NFL Quarterback Terry Bradshaw’s Fox News / Bloomberg Show, “Enterprises TV.” Leafit’s CEO recently did live on-air interviews on the NBC Radio shows “Live with Aaron and Kelly” and “Money Talk.” Mr. Sowell also made the cover of the August edition of “Mobile Entrepreneur magazine”.
In its first round of fundraising, Leafit, Inc. used the popular crowd funding site, Fundable.com. According to Leafit Inc.’s Chief Operating Officer, Ron Pope, Leafit “broke Fundable records and we were contacted by Fundable with a request to be featured on their newsletters and website as a success story in crowd funding.”
Mr. Sowell adds, “We know we have something special and incredibly unique by the comments we regularly receive from industry-insiders, like ‘You just solved the business model problem of all the other popular social networks,’ or, ‘This is so simple and makes so much sense to share the wealth with your users’.”
The Leafit Private Placement Memorandum, released Monday, July 21, 2014, is for 1 million shares at $1.41 per share and the Company has a total of 10 million shares authorized.
Source: Leafit, Inc.