Monster Offers, an aggregator and publisher of local daily deals, has raised $10 million in equity financing from Auctus Private Equity Fund.
The financing is subject to an S-1 Registration Statement with the SEC, which the publicly-listed company expects to file by January 28, 2011.
Monster Offers says it plans to register existing shares from its treasury for the Auctus Private Equity Fund round to avoid shareholder dilution.
The startup has introduced what it refers to as the ‘Social Network Channel’, a technology platform that “places Social Marketing at the center of the marketing world and the hub of today’s business enterprise”.
I’ve reread that a couple of times, but still don’t really understand what this company does.
And then I kept reading and it got worse:
It’s also a framework for integrating information, people and processes across organizational boundaries. It provides a secure single sign-on & unified access point, in the form of a web-based user interface and is designed to aggregate and personalize information through application-specific components & portlets.
They’ve lost me completely at this point.