SINGAPORE, Aug. 1, 2018 /CNW/ -- Runs Capital Private limited (Runs.com), a Singapore based corporation announced that it has mandated Panamax Capital, LLC as its financial advisor in a private placement offering of $15 million in Runs Tokens and $5 million in shares. The private placement will accelerate growth for the company by generating capital on the strength of the unique Runs.com business model.
Runs.com is a decentralized eCommerce platform built on digital trust, imbibing the blockchain philosophy of openness and transparency. The company aims to give the control of data and decision-making back to consumers. Runs.com is building a global community around experiences in 25 countries across the globe.
Giri Devanur, CEO of Runs.com adds, "It is no secret that blockchain technology is evolving at a rapid pace the world over and we are happy to be a part of this transformation. In the existing model, customers and vendors have little or no control over the value chain. Blockchain in eCommerce will mean that customers and vendors have visibility all the way to its point of origin – thereby revealing important details crucial for quality assurance and safety. At Runs.com, we are happy to be at the forefront of such technological advances. I am also pleased to partner with Panamax Capital who are helping us raise the next round of capital to power our growth plans."
Panamax Capital, LLC Chief Executive Officer, Thomas Blinten said, " I am excited to partner with Runs.com to advise on their capital strategy for their global expansion. We are very impressed with the quality of the management team, the massive size of the markets and the cutting-edge technology of Runs.com. We believe that this capital raise will accelerate the growth of Runs.com."
Dr. Artit Wangperawong, Co-Founder and Chief Technology Officer at Runs.com points out "Blockchain technology is uniquely poised to disrupt how companies operate. Particularly for eCommerce, merchants and consumers would benefit from a decentralized platform operating on a blockchain to reduce transaction overhead and costs. We are investing in this technology now to prepare for the demands of the new age economy. The success of our efforts could pave the way for how we transact in the future."
Runs.com will be disrupting traditional ecommerce platforms which use SKU's as the fundamental way to identify units. Moving away from the conventional SKUs, Runs.com has patented a new method of identification and tracking called XKU - 'Experience Keeping Unit'. Runs.com XKU's will cover the 3-S parameters - Story, Source and Sustainability.
What is an XKU?
An XKU is a product and service identification code for an item that helps track the item for inventory. It can be assigned to both physical and non-physical products in inventory.
Unlike SKUs whose code usually reveals a product's details, such as color, size, style, price, manufacturer and brand, an XKU includes the basic elements of SKU and three S-factors; Story, Source, and Sustainability. Each XKU has a unique experience attached to it and is secured on the Blockchain as a ledger entry.
Warshaw Burstein, LLP is the legal advisor to Runs.com and Panamax Capital, LLC is the financial advisor with broker dealer services provided by Partner Capital Group, LLC.
In accordance with the mandate, the company will be filing a Reg-D 506C with the Securities and Exchange Commission.
The securities sold in the private placement have not been registered under the Securities Act of 1933 and may not be resold absent registration under, or exemption from registration under, such Act.
Runs Capital Private Limited company operating under the brand of Runs.com was formed in February 2018 as a next generation eCommerce platform built on the transformational blockchain technology. Runs.com is the world's first blockchain-based eCommerce platform for experiences targeting over 2.5 billion people. Runs.com, headquartered in Singapore with offices in New York and Bangalore, intends to initially bring together Coffee, Cinema & Cricket enthusiasts around the world on its platform. Runs.com aims to build a global community of people around their interest areas in 25 countries and 125 cities.
The Company's management team includes Giri Devanur - CEO, Dr. Artit Wangperawong – Chief Technology officer, Avi Jain - SVP, Finance, Carlos Fernandez – Chief Growth Officer, Sandesh Nanjundappa – Chief Digital Officer, and Piyush Sadana – Chief Strategy Officer.
The Company's Board of Directors consist of five members: James Yee - Chairman, Giri Devanur - CEO, Tom Blinten (non-exec), Mokkoh Nobuyuki (non-exec), and Jee Cho (non-exec).
Please visit www.Runs.com for further information.
About Panamax Capital, LLC
Panamax Capital, LLC is a private, global merchant banking firm. Headquartered in Greenwich with resources in the Americas, Asia, Europe, and India, the firm provides capital markets, M&A, and principal finance services to its clients.
About Partner Capital Group, LLC
Partner Capital Group, LLC is a boutique, globally focused, institutional capital introduction and advisory firm and FINRA registered broker-dealer based in Greenwich, CT.
Note: This press release includes forward-looking statements that relate to the business and expected future events or future performance of Runs.com and involve known and unknown risks, uncertainties and other factors that may cause its actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Words such as, but not limited to, "believe," "expect," "anticipate," "estimate," "intend," "plan," "targets," "likely," "will," "would," "could," and similar expressions or phrases identify forward-looking statements. Forward-looking statements include, but are not limited to, statements about Runs.com's financial and growth projections as well as statements concerning our plans, predictions, estimates, strategies, intentions, beliefs and other information concerning our business and the markets in which we operate. The future performance of Runs.com may be adversely affected by the following risks and uncertainties: the level of market demand for our services, the highly-competitive market for the types of services that we offer, market conditions that could cause our customers to reduce their spending for our services, our ability to create, acquire and build new businesses and to grow our existing businesses, our ability to attract and retain qualified personnel, currency fluctuations and market conditions around the world, and other risks not specifically mentioned herein but those that are common to industry. For a more detailed discussion of these factors and risks, investors should review our Whitepaper and visit the terms and conditions on our website www.runs.com. Forward-looking statements in this press release are based on management's beliefs and opinions at the time the statements are made. All forward-looking statements are qualified in their entirety by this cautionary statement, and Runs.com undertakes no duty to update this information to reflect future events, information or circumstances