YayYo, Inc., an app that provides metasearch applications for ridesharing services, said Tuesday that it had qualified its Regulation A+ offering at $8 a share to raise proceeds of $50 million. Under Regulation A+ offerings, known as a “mini-IPO,” private companies can raise up to $50 million from the general public, not just accredited investors. The company says it provides a “Kayak-style” metasearch service and allows consumers to compare prices across different ridesharing services. YayYo started in June and the founder Ramy El-Batrawi said he anticipates the app launching in the next few months.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News