Tacoma, WA, November 17, 2008 --(PR.com
)-- Wishy, Inc. is pleased to announce today that it closed an initial funding round from 7th Rig, an angel investment group located in California with a successful track record of working with companies across a variety of high growth industries.
"After thoroughly analyzing the Social Networking market, we believe that Wishy will provide us with a great return by dominating the social shopping space”, said David Anderson, the Managing Director of 7th Rig. "The company is being led by a strong, well connected team with superior intellectual property and a solid technical base. We believe that Wishy is well-positioned from both a strategic and marketing point of view for viral growth within the coming months."
Though the exact terms of the investment were not disclosed, the funds will allow Wishy to launch and support the Soldier Wish Campaign, a non-profit group focused on fulfilling soldier’s wishes during the holiday season. Based upon Wishy’s “Wish Platform”, the campaign will recruit tens of thousands of America’s service men and women and their families and provide a method for our country to “give back” to these heroes during this time of war.
“With our upcoming support of the Soldier Wish project and by empowering other social causes over the next several months, Wishy will not only gain tremendous market traction but also do a whole lot of good,” said Federico Pacquing, CEO of Wishy. “This investment from 7th Rig, which occurs before our launch on Facebook and Myspace, verifies the validity of our model. We’re excited to be working with them, a team that can help our strategy come to fruition.”
Wishy was the brainchild of two Los Angeles-based entrepreneurs who were passionate about the possibilities encountered when marrying Social Networking with E-Commerce. In stealth mode for several months, Wishy recruited a top-tier team to implement an aggressive strategy to monetize the social networking phenomenon.
“We’re excited that a group as innovative as 7th Rig decided to help Wishy fulfill our incredible vision, “ said Deano Sutter, Wishy President and co-founder. “With David’s team, network and assistance Wishy will become a leader in the Web 2.0 space within a short timeframe.”
About Wishy, Inc.
Wishy's goal is to allow people to collect Wishes wherever they find them – online, in a store or from their friends and share them with whomever they choose. Founded in 2006, Wishy’s “Wish Platform” creates a marriage between social networking sites, mobile devices and e-commerce destinations. Currently in stealth mode, several Wishy-enabled initiatives will be launching within the quarter. Wish for everything…
Please visit their web site at www.wishy.com.
About 7th Rig
7th Rig is an angel investment network of successful entrepreneurs which provides capital, strategic guidance and relationships to take companies from concept to realization. They have been involved in a variety of industries including entertainment, green building technology, agriculture and now with Wishy, Inc., next generation web technologies. 7th Rig’s area of primary interest is working with companies that have high-growth potential, a clear vision and capable management teams.
About Soldier Wish Campaign
The Soldier Wish Campaign is an initiative that focuses on giving back to the Soldiers, Seamen and Airmen of the United States military that have sacrificed so much for our country. Created by Wishy, Inc., the Campaign allows Americans to easily log onto the Soldierwish.com website and view a list of Wishes that our men and women in uniform have made for themselves and for their families. Citizens can then purchase these wishes easily and securely – all payment information for the purchaser and shipping information for the soldier are kept confidential.
The Soldier Wish Campaign is a real way Americans can say “thank you” to our men and women in uniform for the sacrifice that they and their families make every day for our freedom.
Please visit their web site at www.soldierwish.com.