PAID, Inc. Raises $525,000 to Fund Multiple eCommerce Platform Integrations
November 20, 2014
Westborough, MA (November 20th, 2014) PAID, Inc., (OTCBB: PAYD) a Delaware corporation, entered into a Common Stock Purchase Agreement with multiple investors relating to the issuance and sale of the Company’s common stock in a private placement. At the closing of the private placement on November 20, 2014, the Company sold an aggregate of 10,500,000 shares of common stock at $0.05 per share, for an aggregate purchase price of $525,000. The Company plans to use the net proceeds from the sale of the shares for sales and marketing, research and development, and general corporate purposes.
AuctionInc, a brand of PAID, continues to further enhance and develop its line of shipping calculator products. AuctionInc has recently completed the development of a WooCommerce shipping calculator integration to its portfolio. “We are currently in the process of developing shipping calculator plugins for Magento, PrestaShop and WP e-commerce. These plugins will increase the Company’s visibility in the eCommerce marketplace and AuctionInc’s ability to provide real time accurate carrier rates to hundreds of thousands of potential customers,” stated Austin Lewis, PAID’s CEO.
“This funding will also help us expand our eCommerce platform to include global carriers and accommodate shipping solutions for client’s worldwide,” added Lewis.