|[September 03, 2014]
Sgrouples Raises $1.2M Series Seed II
MOUNTAIN VIEW, Calif. --(Business Wire)--
Sgrouples, the privacy-centric, next generation social networking
service, today announces that it has closed its Series Seed II, a $1.2M
raise. Sgrouples' CEO, Mark Weinstein commented today, "We oversold -
which means that we turned investors away. Not something typically done
in Silicon Valley, but our team has worked hard to make our network a
platform of the people, so it was only right that we went with investors
who share a common mindset." Combined with Series Seed I which closed
for $600k in June, 2013, Sgrouples has raised a total of $1.8M in Seed
"Americans care about privacy," Weinstein continues. "A 2014 Harris
Interactive Poll found that 99% of Americans now claim to care about
their online privacy. 71% "care deeply." Repeated privacy violations by
Internet companies and government agencies have caused consumers of all
ages to view social media as a venue for spying and stalking, instead of
one for safe personal connection. NSA's Prism and cyber bullying
exacerbate this. The fatal design flaw is that companies like Facebook
and Google (News - Alert) have uncontrolled access to our personal data, regardless of
their so-called 'privacy settings.' Our data is scraped, tracked,
harvested, and leaked to/by strangers, employers, colleges, advertisers,
insurers, the NSA, data brokers and criminals. Consumes are the
product, marketers are the customer. Sgrouples seeks to change that.
This investment is a significant step toward that change. Beyond this,
we anticipate a future round of $15M - $20M."
Sgrouples Investor Team
"We have a blue ribbon investor team," says Weinstein. "Each of them has
invested their personal money into Sgrouples Seed rounds." The group
John Friedman, a leading Venture Capitalist, Founder and Managing
Director of Easton Capital in NYC.
Jack Canfield: Known worldwide as "America's Success Coach." Followed
by millions of people, Jack is the author of "Chicken Soup For The
Soul" and "The Success Principles."
Marci Shimoff: Connector to women. Marci has written many best-sellers
translated around the world, "Love For No Reason," "Happy For No
Reason," all the "Chicken Soup for the Woman's Soul" books, and more.
Tom Myers: Leading Investment Advisor in the USA. Tom is ranked in the
top 50 of "Barron's TOP 100 Investment Advisors."
Mykola Latansky: The leading personal improvement guru of Eastern
Dan Phillips: Leading tech entrepreneur who created and ran the UMASS
technology incubator, and sold one of his companies to DELL. Dan is
currently the CEO of CloudHealthTech.com.
Jack Sweeney: CEO of SevOne and an Operating Partner with Bain Capital
For more information, visit: www.sgrouples.com
Sgrouples is the multi-platform, privacy-centric, all-in-one social
network that lets individuals and organizations connect and share with
the people and communities they care about. Sgrouples provides users
with the world's most powerful social experience and peace-of-mind with
its Privacy Bill of Rights. Sgrouples members own their own content.
Their personal information is kept private. There is no spying, no
tracking, and no stalking. Sgrouples makes it easy for members to allow
or deny access to any content they post. Sgrouples keeps its promises;
if the company ever changes its policy, it promises to email every
Sgrouples user and tell them exactly what was changed and give them the
option, in the email, to download their content and delete their account.
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