SYS-CON MEDIA Authors: Pat Romanski, Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel

News Feed Item

Digital Offering Announces the Successful Completion of a $5.5 Million Private Placement for Acorns Grow Incorporated

NEWPORT BEACH, CA--(Marketwired - March 12, 2014) - Digital Offering (www.digitaloffering.com), a next generation, technology-driven investment bank, today announced that its client, Acorns Grow Incorporated, successfully completed its private placement of Series B Preferred Stock. Acorns is the first micro-investing platform which allows people to harvest, save and invest small amounts of money on the fly and has raised the maximum offering amount of $5.5 million. Digital Offering acted as co-placement agent in the offering along with its affiliate, Euro Pacific Capital, Inc.

Acorns designed and developed a micro-investing platform that allows people to sweep sub-dollar amounts at high frequency into a portfolio of index funds offered by three of the world's largest money managers: Blackrock, Vanguard and PIMCO heretofore thought to be impossible or uneconomical to gather and invest in this manner. Offered via a mobile application, Acorns is connected to a proprietary financial engine, which allows customers to automatically round-up loose change from credit and debit card purchases, gather and collect rebates (and eventually certain other forms of found money), and sweep these micro amounts into their investment portfolio.

The net proceeds from the offering will be used for, among other things, the launching by Acorns of its mobile app which is expected to occur during the first half of 2014.

"We are delighted to announce the completion of our first deal on the Digital Offering platform" commented Gordon McBean, CEO of Digital Offering, "It was also a great experience working with Acorns' management team on the transaction. We are excited at the prospects for the business and feel that its upcoming launch will generate a lot of excitement in the financial community and beyond."

"The recent title changes to the JOBS Act have opened up the opportunity for startups to get up and running faster with access to more capital," said Walter Cruttenden, Cofounder and CEO of Acorns. "Our oversubscribed round speaks volumes to the popularity of crowdfunding and we see it emerging as the new way for tech startups to increase their fund raising and the size of transactions. The technology industry is a dynamic one and the investment banking community needs to compliment the culture and pace of the industry they serve."

About Digital Offering LLC

Digital Offering is a next generation investment bank that utilizes state of the art technology to facilitate the private placement of securities. Digital Offering leverages recent regulatory changes that permit the general solicitation and general advertising of private placements to develop targeted advertising campaigns for its issuer clients. Through a strategic partnership with Euro Pacific Capital, Digital Offering provides issuers with access to thousands of active, high net worth investors. Digital Offering's technology platform levels the playing field by automating the private placement process and giving investors the ability to participate in private placements brokered by Digital Offering exclusively or as co-agent with a variety of other investment banks through Digital Offering's website from any place at any time.

About Acorns Grow Inc.

Acorns is the first true micro investing company, allowing people to round up purchases and automatically invest the change®. The Acorns app and financial engine is built to help people micro invest commission-free into a diversified portfolio of index funds offered by the world's largest asset managers: Vanguard, Blackrock, and PIMCO. Customers purchase fractional shares, automatically saving and investing small amounts of money frequently. The app can also help identify and gather found money, such as rebates and rewards, which can be automatically swept into the customer's investment account. Like the alarm app that helps you wake, and the calendar app that helps you keep appointments, Acorns works behind the scenes, saving and investing pennies at a time, so you don't have to. From Acorns mighty oaks do grow!

Acorns Grow Inc. (d/b/a/Acorns) is the parent of Acorns Securities LLC, a member of FINRA and SIPC, and Acorns Advisers LLC, an SEC registered investment adviser.

Risks of Investing in Private Placements

Investing in private placements involves a high degree of risk. Securities sold through private placements are typically not publicly traded and, therefore, are less liquid. Additionally, investors may receive restricted stock that may be subject to holding period requirements. Companies seeking private placement investments tend to be in earlier stages of development and have not yet been fully tested in the public marketplace. Investing in private placements requires high risk tolerance, low liquidity concerns, and long-term commitments. Investors must be able to afford to lose their entire investment. Investment products are not FDIC insured, may lose value, and there is no bank guarantee.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
The cloud is becoming the de-facto way for enterprises to leverage common infrastructure while innovating and one of the biggest obstacles facing public cloud computing is security. In his session at 15th Cloud Expo, Jeff Aliber, a global marketing executive at Verizon, discussed how the best place for web security is in the cloud. Benefits include: Functions as the first layer of defense Easy operation –CNAME change Implement an integrated solution Best architecture for addressing network-l...
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
“We help people build clusters, in the classical sense of the cluster. We help people put a full stack on top of every single one of those machines. We do the full bare metal install," explained Greg Bruno, Vice President of Engineering and co-founder of StackIQ, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's

SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada...
SYS-CON Events announced today that AIC, a leading provider of OEM/ODM server and storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. AIC is a leading provider of both standard OTS, off-the-shelf, and OEM/ODM server and storage solutions. With expert in-house design capabilities, validation, manufacturing and production, AIC's broad selection of products are highly flexible and are conf...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Mobile commerce traffic is surpassing desktop, yet less than 20% of sales in the U.S. are mobile commerce sales. In his session at 15th Cloud Expo, Dan Franklin, Segment Manager, Commerce, at Verizon Digital Media Services, defined mobile devices and discussed how next generation means simplification. It means taking your digital content and turning it into instantly gratifying experiences.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...