NEW YORK, April 30, 2020 /PRNewswire/ -- Four billion people have been ordered to stay home due to the coronavirus pandemic and executives around the world are discovering that managing remote workers blindly is as tricky as conducting an orchestra without seeing or hearing the musicians. Never before has a market so large appeared so fast.
TransparentBusiness offers a solution. It's robust, acclaimed, and infinitely scalable. Designated by Citigroup as the Top People Management Solution, TransparentBusiness makes remote work visible to clients and managers and boosts the productivity of remote work by resolving its principal challenges: Trust, Engagement, and Accountability.
"Our objective is to make TransparentBusiness synonymous with the category of remote workforce management, globally," said Alex Konanykhin, the CEO of the Company. "More importantly, we aim at resolving the most acute business problem in the world, facilitating the continued and efficient operation of businesses around the world during the pandemic and afterwards."
To scale up fast, TransparentBusiness will open its third round of financing on May 4th, 2020. The company has raised $6M in its first two rounds and it limited the third round to five million shares at $2/share, or $10 million. For the first time, TransparentBusiness opens access to its equity to small investors: while the minimum investment was set at $50,000 in the preceding rounds, in the third round it's lowered to the much more inclusive $5,000.
"While this amount may feel inconsequential, the return may be considerable," said Andrew Winn, our Chief Investor Relations Officer. "For example, a $5K investment in Uber yielded $25M, despite the enormous challenges Uber was facing for much of its existence. Introduced at the right time, technology platforms can grow remarkably fast. For example, TikTok (ByteDance) has reached a valuation of $75B, Salesforce.com - $160B. We believe that the right time for TransparentBusiness' expansion is now."
Mr. Winn stressed that no return may ever be guaranteed in equity financing and that the participation will be limited to investors who fall within the SEC definition of "accredited investors", such as individuals with the net worth of over $1M or income of over $200,000 per year. Investors may apply for participation in the upcoming third round of financing at TransparentBusiness.com/invest web page.
"We want to democratize access to investment opportunities and give a large number of people from around the world a chance to co-build with us, the company that is redefining how work is done. We strongly feel that it's important for our growth to have as many "brand ambassadors" as possible and so, at this stage, we welcome individual shareholders, especially women, entrepreneurs and financial and tech professionals," said Silvina Moschini, the President and Chairwoman of the Board of TransparentBusiness.
Overall, TransparentBusiness intends to raise $325 million in four pre-IPO rounds, of $10M, $15M, $50M, and $250M. TransparentBusiness investors include Telefonica, one of the largest communications companies in the world, as well as current and former executives of Morgan Stanley, Merrill Lynch, J.P. Morgan, Stifel, Bank of America, Barclays Global Investors, UBS, Wells Fargo, Goldman Sachs, Citigroup, Trust Company of the West, Deutsche Bank, CA Technologies and Accenture.
About TransparentBusiness: TransparentBusiness is an essential element of Emergency Response for corporations around the world during the time of the COVID virus pandemic. See kmgi.us/r3 for more information. For more information, contact Andrew Winn, our Chief Investor Relations Officer of TransparentBusiness at firstname.lastname@example.org / (510) 332-1521
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