FOR IMMEDIATE RELEASE
Wharton MBA Venture Capital Winners Choose PlaySay Inc.
“$1 million mock investment with a $2.5 million post-money company valuation”
PHILADELPHIA, PA, February 2, 2010 — Judged by four esteemed venture capital investors from NY and PA, the investment team which won the 2010 Annual Wharton Sustainable Venture Capital Investment Competition chose to invest $1 million in PlaySay Inc. with their mock investment fund with a $2.5 million post-money company valuation.
PlaySay Inc. was one of four companies selected to present in the prestigious annual competition at Wharton on January 29th, 2010. According to Alexander Perevalov, Director of the Wharton MBA Venture Capital Club, 25% of companies who participate in the competition receive venture capital funding within a year of the competition.
The winning investment team of the annual Wharton Sustainable Venture Capital Investment Competition will move on to participate in the national annual Sustainable Venture Investment Capital Competition. The winning investment team this year at Wharton impressed the real venture capital investment judges with their overall performance and choice of investing in PlaySay Inc. with their mock investment fund.
The Wharton Journal: The competition is a whirlwind of activity, forcing students to make thoughtful investment decisions in a 24-hour span. Teams play the role of venture capitalists, evaluating business ideas using a triple bottom line of financial profitability, environmental integrity, and social equity to determine whom to support. They interview the entrepreneurs, asking tough questions under the watchful eye of VC judges who assess team dynamics, insight into the financials as well as the rapport with entrepreneurs. Then, the real work begins – developing an investment framework, writing a term sheet, and creating a PowerPoint presentation to share their vision for these companies.
Founder of PlaySay, Ryan Meinzer is ecstatic with his two latest accomplishments including winning 3rd place in last week’s 3rd Annual DEMO Night. “MoMo is truly spearheading the mobile technology movement. I was very honored to be selected as a winning presenter in their sold-out DEMO event, and am forever grateful for the investment traction in PlaySay which has followed,” said Meinzer.
“The caliber of applications for our 3rd Annual DEMO Night was exceptionally high,” said Lisa Allen, Mobile Monday Mid-Atlantic Board Director. “PlaySay stood out from the crowd thanks to its simple yet innovative application and polished presentation performance, earning a well deserved commendation in live voting on the night.”
About PlaySay Inc.
PlaySay empowers busy people to extract value from any idle minute with the most practical language learning on the go. The company was launched in 2008, and is fully sustainable. It was initially funded by a PayPal Japan Executive, and has been featured in the Philadelphia Inquirer and the Tokyo Metropolis. PlaySay has 10+ million free products in use by 4,000+ users with 3,000+ products sold to date, and is currently seeking funding to continue its sustainable and profitable expansion (firstname.lastname@example.org).
Jennifer Sherlock, 609-369-3482, email@example.com