Social Media Startup Tsū Exceeds $10 Million in Raised Capital
Tsū Inc., the “Social That Pays,” announces it has significantly expanded its executive team following a successful first year of growth, fundraising, and product development. As Tsū scales to meet the demand of creators around the world and the next phase in the evolution of the company, former chairman of the board, Greg Fell, will be appointed chief executive officer. With Greg Fell driving the company’s core mission and growth, former CEO John Acunto will focus on product innovation and building the Tsū social universe in his new role as president and chief innovation officer. Replacing Fell, Mark Norbom has been appointed chairman of the board of Tsū and will advise on global expansion and operations.
Following more than $10 million dollars of raised capital led by TerraCap Ventures and Hilco Global, Tsū has successfully kicked off its next round of funding having received commitments at a $100 million valuation cap. The capital will support its values to build a social community that fairly compensates content creators, enables commerce at the point of discovery, and provides content tools that inspire creators.
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Greg Fell comes to Tsū from Gama Signature Aviation, the largest private jet charter operator in the United States and the exclusive air carrier for WheelsUp, where he served as chief operating officer. Prior to joining Gama Signature, Fell held leadership roles in information technology with Ford Motor Company and Terex Corporation.
“John has done an amazing job bringing the company to where it is today. I look forward to bringing my technical global experience to Tsū, leading strategic initiatives focused on business operations, processes, financing and strategy,” said Greg Fell, CEO of Tsū. “Together with John’s ability to build an innovative product, and Mark’s expertise in global management and finance, I believe we can show the world that social media and ecommerce aren’t two distinct entities, but one experience.”
Mark Norbom joined the team as a seasoned business veteran, previously holding multiple roles in finance, M&A and global operations over a 30 year period with General Electric, including 13 years as a company officer and vice president. Now, as chairman of Tsū, Norbom’s global leadership experience will provide robust insight into expansion and scale as the company embarks on its post-beta launch in the coming months.
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“I am honored to become chairman of the board at Tsū, working alongside a talented and passionate team dedicated to making groundbreaking strides in the world of social media,” said Mark Norbom, board chairman of Tsū. “I’m looking forward to sharing the knowledge I acquired during my tenure at General Electric to attract a global user base to the Tsū social universe. I can’t wait to help unlock our full potential and make waves in the consumer technology space this upcoming year.”
In support of Tsū’s mission and growth, Sean Cross, founder of Silicon Alley Investors, has stepped up as president, global business development and revenue, along with Eric Cohen, formerly senior vice president and general counsel of Fortune 500 Company, Terex Corporation, as executive vice president and corporate secretary of Tsū.
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