PR Newswire
London, May 22
22 May 2014
Vela Technologies PLC
("Vela" or the "Company")
Investment in The Social Superstore Limited ("Social Superstore")
Vela Technologies, the investing company focussing on early stage and pre-IPO
technology investments, is pleased to announce an investment of £100,000 in the
£1m series B funding of The Social Superstore Limited, a social commerce
platform which is being built with a view to launch in Q4 2014, initially in
the UK. This funding, which is due for payment on or before 31 July 2014, will
be applied to building the back end of the platform and places a pre-money
valuation on The Social Superstore of £3m, giving Vela a 2.5 per cent.
interest.
The Social Superstore aims to allow consumers to blend and monetise their own
social networks, and provide trusted endorsements to their trusted networks on
online products and services. Vela believes that the social commerce space is
one which has the potential to be monetised by consumers across a range of
sectors.
For further information:
Vela Technologies plc
Brent Fitzpatrick, Non-Executive Chairman
Antony Laiker, Director 07802 262443
ZAI Corporate Finance, Nomad 020 7060 2220
Peter Trevelyan-Clark/Tim Cofman/Wei Wang
Hume Capital Securities plc, Broker 020 3693 1470
Jon Belliss
Newgate Threadneedle 020 7653 9850
Graham Herring/Heather Armstrong
