Kuddle, a Norwegian-based picture sharing app for kids, has opened a second equity crowdfunding campaign on Fundable to raise $1.3 million dollars to continue its global expansion. This new campaign comes nearly six months after its first initiative surfaced on the platform.
As previously reported, Kuddle launched last August and allows parents to monitor what their children publish along with keeping access to content restricted. The firm, which has dubbed itself as a child friendly rival to Instagram, is in the process of hiring 40 to 50 associates in its newly established Silicon Valley office.
The second round of funding values the company at $4.5 million before the issue of new shares. CEO of Kuddle, Ole Vidar Hestaas, explained:
“This is a great investment opportunity and a low entry price for a stake in a company that has a great potential and bright future.”
It was noted that mark potential Kuddle was extremely popular in its home market of Scandinavia, but has enjoyed a spot in Brazil and the UK under the Social Network category, in competition with the likes of Instagram, Twitter and Facebook.
Hestaas added:
“We are ramped up for the Asian market and have lined up Japan, Vietnam, South Korea and Thailand a market with more than 250 million people, so this round mainly be used to initiate our launch their and continue our healty growth of users.”
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