Flippbox To Raise $2M In Convertible Debt

Flippbox, a postal mail management, file storage, and cloud syncing startup, has announced its plans to raise $2M in convertible debt from investors.

While the firm intends to predominantly accept incoming postal mail, it will also offer legal document storage and retention services to both residential and commercial customers, says Randy Hucks, the firm’s founder and CEO.

Incoming mail will be read utilizing artificial intelligence and then placed into a cloud-based storage system similar to Dropbox. The firm also touts that it will reduce one’s environmental footprint by shredding and recycling all incoming postal mail. Mail could come back as egg cartons, paper plates, construction paper, a phone book – or even kitty litter or Sheetrock, according to Hucks. However, the firm plans to produce flip flops.

The minimum investment is $10,000, and the Notes carry an interest rate of 9% with the option to exchange principal and interest for company stock at a 20% discount in 18 months. Funds will be used for pre-and-post launch expenses.

The offering can also be found on Finroad (www.finroad.com).

Flippbox will be located within an area of Sacramento California’s Midtown “Innovation Zone.” The company’s new location provides the ability to recruit the best and brightest in the industry as part of its initial staff of 25. Sacramento is younger than other markets, including San Francisco, San Jose, and Seattle, with millennials making up nearly 42 percent of the working age population. Powerhouse educational institutions including UC Davis and UC Berkeley are consistently producing a highly-educated workforce, as are California State University institutions and community college systems.

“The region anchors a ‘Sustainability Corridor’ that links the state capital with Silicon Valley and the Bay Area,” said Barry Broome, President and CEO of the Greater Sacramento Area Economic Council. “We give people the most efficient and productive access to the California market. Businesses in California make more money here than in most states in America. We are only 90 minutes from the Bay Area and Silicon Valley. We offer access to the most innovative market in the world and we do this with Chicago prices.”

Flippbox is a portfolio firm of Silicon Bay Partners, a holding company established to acquire and develop new leading edge technologies as well as promising early growth stage companies.

For more information, visit www.flippbox.com
MEDIA CONTACT – Flippbox: Randy Hucks, randy.hucks@ourblog.siliconbaypartners.com