LX Ventures (LXV-V) Venturing into tech stocks...
www.lxventures.com
30.4 million o/s
Insiders own 39%
Haywood 14.5%
$1.4 million cash
No debt
LX Ventures to acquire Weeve Ventures
Feb 14, 2013 - News Release
LX Ventures Inc. and Weeve Ventures Inc. have finalized an asset acquisition agreement in which LXV will acquire all of Weeve's assets including its crowd-funding platform Weeve.it.
Since its launch in July, 2012, Weeve has helped dozens of non-profits by providing a simple and effective platform to increase their fundraising efforts, making it easier to raise funds as compared with traditional fundraising methods. Weeve's platform currently enables non-profits to tap into a new crowd of socially conscious and tech-savvy individuals. Weeve was featured in the major press including TechVibes, TechCrunch, the Digital Journal and the Huffington Post. Weeve was named as one of the "top six coolest companies to watch" by Metro and described as the start-up "set to disrupt non-profit fundraising" by the Digital Journal.
LX Ventures plans to take Weeve's sophisticated crowd-funding framework and repurpose it for use in other industries that are ready for disruption.
"Weeve's crowd-funding technology is a natural fit for our FinTech market vertical. Together, we will internally innovate and deliver revolutionary funding solutions across multiple market sectors," said Ray Walia, chief operating officer of LX Ventures.
Alex Chuang, co-founder and chief executive officer of Weeve, said: "We couldn't be more thrilled to join forces with LX Ventures. With LX Ventures accelerating our growth with their business intelligence, we can continue to innovate and take crowdfunding to new heights."
We seek Safe Harbor.
Company presentation
lxventures.com
Fact sheet
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