TMCnet News
biffle Launches $50 Million Regulation A Fundraising Effort under New JOBS Act Rulesbiffle USA, Inc., an online Buying Club that plans to use a patented reverse auction to help consumers find the guaranteed lowest price online on thousands of new, name-brand consumer products, today announced a Regulation A fundraising effort that seeks to raise up to $50 Million under Title IV of the Jumpstart Our Business Startups (JOBS) Act. The Securities and Exchange Commission's new Regulation A+ rules allow any individual to invest up to 10 percent of their annual income or net worth, giving biffle the opportunity to seek up to $50 million in a wide-ranging effort that may well result in the industry's first successful Reg A+ fundraising campaign. "In years past, companies were not able to seek investment from average individuals, who might have wanted to invest in a startup," said biffle founder Gene Fusz, a noted technology entrepreneur. "Such opportunities were once only available to accredited investors. But not anymore, as the JOBS Act has changed the investment climate, and we are excited to be at the forefront of such exciting times." Fusz was the original inventor of systems for conducting auctions on the Internet (US Patent No. 7,133,835), notably with an invention date predating eBay's (News - Alert) founding. More recently, Fusz was granted a new patent (US Patent No. 8,438,072) for a reverse auction designed for the consumer products marketplace with purchasing assurances of best price and transaction security not unlike those found in major securities and commodities exchanges. biffle will initially launch as an online Buying Club. But as this marketplace begins to scale, Fusz believes it will be transformed into a virtual stock market with spot-market pricing on thousands of new, name-brand consumer products. "We hope to eliminate the need for the price search engines used by consumers," Fusz added. "We want to change the face of e-commerce and how consumers ensure that they are getting the lowest price available." To learn more about biffle's fundraising effort and to register to attend the company's upcoming webcast, please contact the company at: www.biffle.com/invest/biffle. About biffle.com biffle is an online Buying Club for new, name-brand consumer products for consumers seeking the lowest price on the Internet. This new purchasing service will utilize two powerful business models, a reverse auction model and a buyer's agency model to revolutionize online buying. View source version on businesswire.com: http://www.businesswire.com/news/home/20150630005126/en/ |
