Social Net College Tonight Goes Public in Reverse Merger; Raises $1.6 Million

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LA-based social net College Tonight has gone public on the OTCBB market via a reverse merger with Simex Technologies. As part of the transaction, College Tonight said it has raised $1.6 million in a private placement. College Tonight CEO Zachary R. Suchin is now the CEO of Simex, which is applying to change its name and its ticker symbol, reflecting the new business. It also plans to do a reverse stock split to lift the share price, which is currently at $0.49. The company says it’s different than other social nets in that it’s more about facilitating live events and other in-person interactions, rather than focusing on online communications. Release.

3 Comments

Harley

That's a good call Jim. But I do think there is always room for a new social experience for web users.
The fast pace, changing world of the internet opens up new possibilities on an almost daily basis.

Jim

Don't wish them any ill will but frankly I think that Myspace and Facebook have dominated the market to the point where all of these startup networks are going to have trouble gaining a good base.

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