X+1 COO Stephano Kim On New Capital Raise
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August 18, 2009 – 12:26 pm
Stephano Kim is President and Chief Operating Officer of x+1, an online buying platform and data company.
AdExchanger.com: A recent SEC filing shows that [x+1] has recently raised approximately $2 million. What will the new funds be used for? And, why a smaller raise like this as opposed to a larger raise or using debt?
SK: In short, we did a quick small raise to fund some very specific R&D efforts in new business lines where we could extend our platform. The current business doesn’t require any further capital and we have enough debt to manage our working capital day-to-day. As you know our platform is both data and channel agnostic and we think there is fertile ground in many markets where our platform could really drive a paradigm shift.
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August 18, 2009 – 12:26 pm
