biffle Launches $50 Million Regulation A Fundraising Effort under New JOBS Act Rules
30 June 2015 - 11:00PM
Business Wire
biffle USA, Inc., an online Buying Club that plans to use a
patented reverse auction to help consumers find the guaranteed
lowest price online on thousands of new, name-brand consumer
products, today announced a Regulation A fundraising effort that
seeks to raise up to $50 Million under Title IV of the Jumpstart
Our Business Startups (JOBS) Act.
The Securities and Exchange Commission’s new Regulation A+ rules
allow any individual to invest up to 10 percent of their annual
income or net worth, giving biffle the opportunity to seek up to
$50 million in a wide-ranging effort that may well result in the
industry’s first successful Reg A+ fundraising campaign.
“In years past, companies were not able to seek investment from
average individuals, who might have wanted to invest in a startup,”
said biffle founder Gene Fusz, a noted technology entrepreneur.
“Such opportunities were once only available to accredited
investors. But not anymore, as the JOBS Act has changed the
investment climate, and we are excited to be at the forefront of
such exciting times.”
Fusz was the original inventor of systems for conducting
auctions on the Internet (US Patent No. 7,133,835), notably with an
invention date predating eBay’s founding. More recently, Fusz was
granted a new patent (US Patent No. 8,438,072) for a reverse
auction designed for the consumer products marketplace with
purchasing assurances of best price and transaction security not
unlike those found in major securities and commodities
exchanges.
biffle will initially launch as an online Buying Club. But as
this marketplace begins to scale, Fusz believes it will be
transformed into a virtual stock market with spot-market pricing on
thousands of new, name-brand consumer products.
“We hope to eliminate the need for the price search engines used
by consumers,” Fusz added. “We want to change the face of
e-commerce and how consumers ensure that they are getting the
lowest price available.”
To learn more about biffle’s fundraising effort and to register
to attend the company’s upcoming webcast, please contact the
company at: www.biffle.com/invest/biffle.
About biffle.com
biffle is an online Buying Club for new, name-brand consumer
products for consumers seeking the lowest price on the Internet.
This new purchasing service will utilize two powerful business
models, a reverse auction model and a buyer’s agency model to
revolutionize online buying.
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For biffle USA, Inc.Aaron Perlut,
314-800-7218aaron@goelastic.com