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Funded On FlashFunders: Verizon Acquires LQD WiFi

November 17, 2016

As a company, our mission has focused on empowering investors and startups to make their visions a reality. Since our inception, we’ve successfully facilitated 25 offerings, through Reg D and Reg CF, that have hit their funding goals. As much as we love seeing a successful funding round, we hope to see those startups use the funding to take their business to the next level.

That hope has turned into a reality with the news of Verizon’s purchase of LQD Wifi. In November of 2015 LQD Wifi closed their funding round on Flashfunders, securing $1.9 million in funding.

Led by former Microsoft UK CIO Randy Ramusack, LQD Wifi were in the process of building a kiosk system called PALO. It delivered free WI-FI, community and location information, and emergency alerts to people in the surrounding area. Renderings for the kiosk are similar to the Link NYC kiosks, which have started to slowly infiltrate the five boroughs in NYC.

The two products share similarities, but Palo kiosks excel in their use of technology. While Link NYC offers a tablet for users to search for information, Palo incorporates a 46-inch LCD touch screen with interactive transit maps, public safety information, real-time schedules, and more. In a statement to Ars Technica, Ramusack wrote “Palo’s human scale-touch screen lets users explore and connect with the local community creating multiple ways to engage, through an innovative, purposeful, and curated experience.

Based on Verizon’s recent purchases of Telogis, Sensity Systems, and Fleetmatics, LQD Wifi looks to be another addition to the growing list of companies Verizon classifies in their internet of things portfolio. While the kiosks aren’t expected to be rolled out any time in the near future, New Rochelle, NY has been the first city to announce its interest in installing Palo in their community.

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