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closeMembers of the Bellingham Angel Group, an organization of early-stage investors, recently made an investment in networkText, a Bellingham start-up company that provides free group text messaging.
After networkText made a presentation at the group’s February meeting, five members decided to invest in the company following a due diligence process. The amount of funding was not disclosed.
“NetworkText is a promising company with a sharp team and a product with a lot of promise. It is a pleasure to be able to invest not only in a vibrant new company, but to invest also in our local economy and our community at large,” said Bruce MacCormack, chairman of the Bellingham Angel Group in a press release.
NetworkText allows users to instantly send free cell phone text messages to a large group of people using its Web site, networkText.com. The service is free to users, and revenue is generated through advertising — each text message displays a short ad at the bottom. The company consists of five employees.
The Bellingham Angel Group meets six times per year, hearing presentations from regional early- to midstage companies seeking funding. For more information, visit www.bellinghamangels.com.
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