Abazias Raises $300,000 in Funding

Abazias.com, an online jeweler, has raised an additional $300,000 in private placement funding. The purchase by two accredited investors concluded at $1.50 per share for 200,000 restricted shares.

Abazias said proceeds will be used to further implement Abazias' business plan, which includes a larger marketing budget.

According to CEO, Oscar Rodriquez, the site had a record year “basically doubling revenues”. Hinting that Odimo may end its online activities, Rodriquez said that with the funding “combined with competitors going under, we will be able to increase our presence in the marketplace and prosper.”

The company says it has created a strong customer following based on customer service and site innovations that let shoppers create their own jewelry.