Los Angeles, Nov. 13, 2018 (GLOBE NEWSWIRE) -- – Giggles N’ Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, today announced that it is extending the reservation period for early investors in its crowdfunding campaign listed on Wefunder, the largest crowdfunding platform in the country.
“Los Angeles has been dealing with the worst fires in its history over the past few days. With our Topnaga mall location less than 4 miles away from the most devastated areas of the Woolsey fire, and with many of our customers, friends, family, and shareholders in the same area, and given the adversity some of them are going through, we thought extending the early reservation period through the end of the week was the right thing to do,” stated Joey Parsi, Founder and co-CEO”.
“Over the years, many of our customers have asked how they might be able to invest in Giggles N Hugs and participate in our growth. By doing this campaign, we give them the opportunity to do so. Given the fires and the hardship some of them are going through, we felt that it is our duty to provide additional time so that they can focus on this when the time is right over the next few days once things calm down”.
“After the early reservation period closes, the crowdfunding campaign will open up to the general public and the Wefunder community, making the opportunity available to their nearly 200,000 investors. By extending the reservation period, customers, friends, staff and their families, as well as current and prospective shareholders, can now reserve their participation through Friday, November 16, when the campaign opens to the Wefunder community and general public, Parsi concluded.”
Founded in 2012, Wefunder is the largest crowdfunding platform in the country. Backed by Y Combinator, Wefunder played a key role in helping pass the JOBS Act in Congress, and its more than 183,000 investors have helped more than 220 companies raise over $71 million in the years since. Some of the companies who first raised seed capital on Wefunder have since become innovators and leaders in their respective industries having raised over $1.5 billion in follow-on funding.
Familiar names that raised capital on Wefunder include Zenefits, which raised capital at a $9 million-dollar valuation and has since been valued as high as $4.5 billion. Another familiar name that raised capital through Wefunder is Ginko Bioworks, which raised over $265 million in 2017 at a valuation of $1.3 billion. Other Wefunder success stories include, Meow Wolf, which has raised over $36 million since setting a record by raising over $1 million in less than 48 hours on Wefunder, Beta Bionics is another familiar name that did its seed round at Wefunder and just last week raised over $57 million in its Series B round.
To learn more about Giggles N’ Hugs’ Wefunder crowdfunding campaign, visit: https://wefunder.com/gigglesnhugsinc
About Giggles N’ Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"). Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.