LOYAL3, a San Francisco, CA-based social investing company, raised $18m in Series C financing.
The round was led by DNS-L3, LLC, a firm controlled by business interests of Michael Pucker and Gigi Pritzker Pucker, with additional participation from existing investors Chris Kelly, former Chief Privacy Officer of Facebook, and Barry Schneider, Chairman & CEO of LOYAL3.
LOYAL3 provides a tool for people to buy stock in their favorite brands on Facebook and the web.
For $10 and no fees to pay to buy or sell stock. The platform currently enables people to invest in some of the most popular brands on Facebook, including Amazon, Apple, Coca-Cola, Dunkin’ Brands, Facebook, Google and Starbucks.
The company also offers an IPO product, called a Social IPO™, that opens up IPO access to everyday people on a first-come, first-serve basis, making IPO stock available at the same price, and at the same time, as institutions. IPOs require a $350 cash balance with maximum purchase limited to $2,500 per stock per month.