News By Tag
* Text Messages
* Qr Codes
* More Tags...
News By Location
Long Island Angel Network Funds ShoutOmatic
ShoutOmatic, a Westbury-based start-up that enables 845 million Facebookers and 200 million Twitterers to “Shout” to their friends and fans, has just closed a six-figure investment with members of the Long Island Angel Network.
Serial entrepreneur Norm Levy, the founder, points out that this new dimension of electronic communications is equally compelling for users sending private messages to friends and family and for celebrities wishing to engage with their fans in a direct, authentic and personal fashion. “There is no substitute for the authenticity, emotion and tonality of the spoken word,” he said. “Just as there is no substitute for the value the Long Island Angel investors have brought to my company. Their investment is critical to our business, but we also welcome the personal engagement, business acumen and experience, and range of contacts that will help to accelerate our growth. It’s an unbeatable combination and we appreciate that they’re staying right with us going forward.”
Levy made a presentation at a Long Island Angel Network investor meeting in late October of last year and the deal closed in only four months, on March 1, under the guidance of lead investor Scott Abrams, whose day job is heading The Omnicon Group, a Hauppauge aerospace and defense technology company. Abrams said. “Although most of my seed investments are in technology companies, I’m also interested in social media and in entertainment, and ShoutOmatic’
Abrams credited Long Island Angel Network Board Chair Michael Faltischek, of Ruskin Moscou Faltischek, with expanding the Network’s membership of risk-tolerant, seed stage investors and putting exciting deals like ShoutOmatic in front of them. “Michael is building on the foundation that Dick Lippe (the Network’s founding chair) established. The Angel Network Board of Directors now has the co-founder of CA Technologies and representatives of four VC funds, and our collective investment experience prior to joining the board embraces almost 150 start-up companies. We’re driving Long Island’s innovation economy onward and upward to the next level.”
Faltischek commented that "the Angel Network is pleased that it has again facilitated early stage investment in a Long Island start-up company. This is our mission and our passion. Our members make investment decisions as individuals, but the Network makes it possible for every individual investor to benefit from the knowledge and experience of everyone else in the group. It’s a powerful combination – that’s why there are more than 300 angel groups in the U.S. and Canada, up from about 50 a decade ago.”
# # #
Investors interested in learning more about the opportunities offered by the Network and entrepreneurs seeking financing are invited to visit the Network’s Website – www.liangels.net – or call 631-632-7006 for more information.