TORONTO, May 28, 2014 /CNW/ - Cranson Capital Securities Inc. (Cranson Capital) is pleased to announce that it has closed a convertible debenture financing for Flixel Photos Inc.("Flixel"), an innovative new photography software which combines still photographs and captivating aspects of video. Cranson Capital raised $460,000 through a number of private accredited investors in a convertible debenture offering for the expansion and development of the business.
Last year,Flixel partnered with Tyra Banks, where the "living photos" were featured on her hit television show America's Next Top Model. This strategic partnership created significant awareness and exposure that helped put Flixel on the map. Since then, the company has made significant progress.
In February 2014, Flixel launched Cinemagraph Pro, a professional desktop version of its popular photography software for Mac computers, previously available only for iOS. Within weeks, Flixel achieved featured status on the Mac App Store where it reached No. 1 in the photography category in 78 countries. It also reported sales of over $250,000 in their first quarter, of launching the desktop software. Philippe LeBlanc, CEO of Flixel Photos Inc, commented, "As a team, we had an aggressive goal to become a top player in the photography space, but to have achieved the coveted No. 1 paid App in the Mac App Store in our first month of release was a major milestone for our company."
Devon Cranson, President of Cranson Capital, commented, "We are excited with the continued growth and success of Flixel. When we were first engaged by the company to provide funding, they were only recognized as a start-up mobile app. Flixel continues to hit significant milestones and through strategic partnerships and software development, the company is evolving into a leading player in the photography industry."He added, "Our ongoing financing efforts allow us to give our investors the continued opportunity to invest in Flixel's success and achievements."
About Cranson Capital
Cranson Capital is a boutique investment banking firm which focuses on providing financial and advisory services to small to medium sized growth businesses. The business consists of two divisions; Cranson Capital Securities and Cranson Capital Solutions, both of which offer unique services to support our investors and entrepreneurs. Cranson Capital Securities is registered with the Ontario Securities Commission as an Exempt Market Dealer and specializes in raising capital from accredited investors for private placements in real estate developments, technology start-ups and high growth companies. Cranson Capital Solutions is a corporate finance advisory firm which focuses on finding the right financing solutions for our entrepreneurs.
About Flixel Photos
Flixel Photos is an innovative new software company that allows users to combine features of video and photos creating a "living photo", a still image with moving elements. Flixel Photos operates in a cross-market between photography and video editing software, and its patent-pending technology allows users to create "living photos" within seconds on mobile and desktop. Flixel's vision is to become the premier platform for discovering, creating and sharing living photos. The company is led by a group of experienced entrepreneurs, expert developers and technology veterans. For more information, visit www.flixel.com or click hereto download Flixel from the App Store.
SOURCE: Cranson Capital
For further information: Cranson Capital, Fuyumi Yokura, E: [email protected], T: 416.595.5550