$5 million financing final close reported by We Heart It

Random Research

WHI Though outside Random Research coverage sweet spot, a transaction well worth broadcasting as it doesn’t seem to have been publicized and no one connected the dots yet. A $5 million unregistered debt financing by WHI  (DBA We Heart It) successfully drew to a close. The non-brokered investment round was placed with one investor on March 17th. A total of five unregistered securities offerings closed by the company raised an estimated $14 million. This financing may be related to the $8 million fundraising milestone reached during the summer by the company. While the media reported the company raised $8 million then, Random Research believes the company had raised over $8 million up to then.

WHI is an image-based social network designed to help users easily share their favorite images from popular media, retail sites and image-based applications. The platform had as of December 2013 25 million monthly users and was adding one million new members per month…

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