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San Diego Hi-Tech Startup Gets Creative by Conducting A Funding Experiment
Date:8/7/2014

San Diego, CA (PRWEB) August 07, 2014

A San Diego startup has launched an intriguing funding model to finance their research and development on a groundbreaking social networking mobile app.

Just this month, Tower (http://tower.io) launched a crowdfunding campaign on IndieGoGo (http://goo.gl/7ZS346) to raise $50,000 to help further research for its social networking mobile app. CEO Tony Silva plans to use the money to continue moving the app through beta and to launch marketing campaigns in San Diego and Los Angeles.

The crowdfunding approach is a departure from the typical method used by hi-tech startups to raise a few millions dollars from angel investors and venture capital firms. To date, Tower has been self-funded in an attempt to contain shareholder dilution.

“What we have found is that there are so many hi-tech startups looking to raise money that they are willing to sell a huge chunk of their company for a small investment, as well as give up control of their companies,” Silva said. “By utilizing all possible investment vehicles available to us, we believe that we can maximize shareholder value while maintaining control of Tower and its ultimate direction.”

Tower’s mobile app allows you to create communities where you live, work, and play. By doing so, Tower's mobile app is set to redefine the social networking ecosystem. By closing the "interaction distance" between you and your online friends, Tower creates real-time connections between you and the people in your dorms, office buildings, residential buildings, barracks, hotels, cruise ships, and even resorts.

“What we’ve discovered is that 80% of the population lives in an u
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