NEWS1 November 2010
US— Online community builder CrowdGather has completed a financing of $1.3m in convertible shares to two unnamed foreign investors.
The cash was raised by selling 1.3 million shares of Series A Preferred Stock.
Chairman and CEO Sanjay Sabnani said: “This financing will allow us to continue the strong traffic and revenue momentum we have been experiencing.”
He added that the financing would help the firm reach its “long-standing goal” of being listed on a senior US stock exchange.
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