INVENT Changes Trading Symbol to "IDEA"
Rebranding Reinforces the Silicon Beach Incubator's Unique Position as the Only Public Company in the United States Focused Exclusively on Building Technology Startups
SANTA MONICA, Calif., Oct. 24, 2012 /PRNewswire/ -- INVENT Ventures, Inc. ("INVENT" - http://www.invent.vc) – the only publicly traded venture firm focused exclusively on building startup web and mobile technology companies – today announced that it has completed its transition to INVENT with the change of its stock symbol to IDEA. The company's former name was the Los Angeles Syndicate of Technology, and traded under the stock symbol LAST. INVENT continues to offer retail investors the only opportunity to invest in technology startups at the earliest stages of development, thereby offering dramatically higher potential investment returns than other pre-public instruments.
"We are the only public option for investors looking for pure-play technology startup exposure," said Bryce Knight, CEO of INVENT. "This critical step in our rebranding effort emphasizes our focus on building self-proliferating, scalable and disruptive startups, and underscores our mission of becoming the conduit between Silicon Beach startups and retail investors."
INVENT was founded in 2010 as the Los Angeles Syndicate of Technology by a leadership team with decades of experience managing startups, and the company employs its proprietary "Cofoundry" process to building web and mobile technology companies. INVENT acts as an institutional cofounder and plays a critical role in the creation and development of each company, which means that INVENT builds value rather than buys it. This new approach eliminates bottlenecks in the company creation process and maximizes efficiencies in how companies are conceived, built and brought to market.
INVENT's current portfolio includes:
- VIRURL, an ad platform that helps publishers go viral by providing incentives to users to share branded content.
- Stockr, a social network for the stock market that launched in beta late Q3 2012.
- Sanguine, a provider of highly viable primary human cells and tissues to both the academic and industrial life science research communities through a new direct-to-patient platform.
- LottoPals, a web-based gaming application that allows participants to play the lottery online with their friends.
- HouseCall, a service that makes it easier for doctors and patients to connect.
- Stocktown Productions, a digital creative studio specializing in HD video, 3D animation and web design. To learn more about INVENT and its portfolio of companies, please visit http://invent.vc, or follow the company on Facebook,Twitter or LinkedIn.
INVENT is a publicly traded venture firm that builds and invests in web and mobile technology companies. INVENT's mission is to foster technology innovation and increase investor access to startups by partnering with the most talented entrepreneurs in southern California, providing them with the capital, support and tools to bring their ideas to market and commercialize their products.
SOURCE INVENT Ventures Inc.
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