FOR IMMEDIATE RELEASE
Contact: Brianne Barrett
marlo marketing/communications
617-375-9700
Peekaboo Mobile Secures First Round of Funding from Apricot Capital
Mobile Deals App is New Angel Group’s First Investment
Boston; October 29, 2010 – Peekaboo Mobile, LLC, has announced funding from newly-established seed-stage investment firm Apricot Capital LLC. Peekaboo Mobile is a mobile technology company that connects consumers to location-targeted offers created by local businesses. Peekaboo currently reaches over 50 million smartphone users through their Android and iPhone applications and extensive partner network.
Peekaboo Mobile, founded by Michael Fruzzetti and Ben Dolgoff, launched in March, 2010. It has quickly become a leader in the mobile discount space, appealing to consumers with immediate deals and offers from retail, restaurant and service businesses. Deals can be redeemed on-the-spot by simply flashing one’s phone to the cashier. Peekaboo simplifies the ability for users to find and redeem special deals and provides business owners with an easy and affordable way to attract new customers, drive sales and increase brand awareness. Peekaboo eliminates the usage of wasteful paper coupons with expiration dates and unnecessary obligations to participate in group buying, scavenger hunts and “check-ins”.
“The angel funding we’ve received from Apricot Capital will help our continued efforts to grow our consumer reach, merchant network and strategic partnerships. We plan to expand our sales team and further enhance our development, technology and marketing initiatives,” said Ben Dolgoff, co-founder and COO of Peekaboo Mobile.
Through recent partnerships with other mobile apps like WHERE and Cardstar, Peekaboo has expanded their consumer reach to over 50 million users. Since Peekaboo’s launch, the company has signed up hundreds of businesses, mostly concentrated in Massachusetts, with immediate plans to offer deals in all major metropolitan areas throughout the country. The Peekaboo mobile application can be downloaded for free on any Android-powered device or iPhone. Currently, businesses are offered a free 30-day trial to create and distribute custom, locally-targeted offers through Peekaboo’s network. Peekaboo charges businesses a monthly fee of $19.95 for an unlimited number of deals for a business’ first (or only) location, and $14.95 for each additional location.
“We were impressed with how rapidly Peekaboo has grown their install-base and merchant network. They are one of the hottest companies in Boston’s mobile space,” said Jennifer Lum, partner of Apricot Capital, LLC. “Michael and Ben are stellar, young entrepreneurs and, my partner, Peter, and I are thrilled to be working with them.”
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ABOUT PEEKABOO MOBILE, LLC
Peekaboo Mobile is a mobile technology company that connects consumers to location-targeted offers created by local businesses.
ABOUT APRICOT CAPITAL, LLC
Apricot Capital is a seed-stage investment firm based in Boston, Massachusetts. Founded in 2010 by Peter Wernau and Jennifer Lum, Apricot provides entrepreneurs with a unique combination of financial and operational expertise to accelerate business growth.