Mooter Media

About

Mooter Media operates ImageSocial, a cross-platform gamified photo-sharing network combining image uploads, social voting and large-scale competitive contests with prize-driven voting mechanics, developed with technical partner Hot Shot Media.

Mission

Mooter Media is launching ImageSocial, a gamified photo-sharing network that combines traditional image uploads and social voting with a large-scale competitive photo contest. The platform will support desktop, tablet and mobile access and will encourage users to vote on images as part of an ""American Idol""-style contest that promises substantial prizes. ImageSocial is being built with technical development partner Hot Shot Media and is slated to launch in Q1 2012. The company is using the funding to build out a San Francisco-based development and marketing arm and to rapidly develop and commercialize the platform. Financially, Mooter Media is publicly traded and secured $15 million via a structured convertible-note commitment to fund ImageSocial. The note facility consists of five committed, sequential and non-renounceable convertible notes of $3 million each, with an initial drawdown cadence and escalation tied to share price. The initial drawdown is $200,000 per month with the ability to increase to $1 million per month as share price increases.

Quick Facts