Zipongo, Inc., Corporation just filed form D because of $17.97 million equity financing. This is a new filing. Zipongo was able to sell $17.55 million. That is 97.64% of the round of financing. The total offering amount was $17.97 million. The fundraising form was filed on 2016-11-04. The reason for the financing was: unspecified. The fundraising still has about $424,714 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Zipongo is based in California. The firm’s business is Other Technology. The form D was submitted by Jason M Langheier Chief Executive Officer. The company was incorporated in 2011. The filler’s address is: 901 Battery Street, Suite 250, San Francisco, Ca, California, 94111. Jason Langheier is the related person in the form and it has address: 901 Battery Street, Suite 250, San Francisco, Ca, California, 94111. Link to Zipongo Filing: 000168868616000001.
Analysis of Zipongo Offering
On average, startups in the Other Technology sector, sell 85.80% of the total offering size. Zipongo sold 97.64% of the offering. The fundraising is still open. Could this mean that the trust in Zipongo is high? The average investment offering size for companies in the Other Technology industry is $1.54 million. The total amount raised is 1,039.39% bigger than the average for companies in the Other Technology sector. The minimum investment for this fundraising was set at $0. If you know more about the reasons for the fundraising, please comment below.
What is Form D? What It Is Used For
Form D disclosures could be used to track and understand better your competitors. The information in Form D is usually highly confidential for ventures and startups and they don’t like revealing it. This is because it reveals amount raised or planned to be raised as well as reasons for the financing. This could help competitors. Entrepreneurs usually want to keep their financing a ‘secret’ so they can stay in stealth mode for longer.
Why Fundraising Reporting Is Good For Zipongo Also
The Form D signed by Jason M Langheier might help Zipongo, Inc.’s sector. First, it helps potential customers feel more safe to deal with a firm that is well financed. The odds are higher that it will stay in the business. Second, this could attract other investors such as venture-capital firms, funds and angels. Third, positive PR effects could even bring leasing firms and venture lenders.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.