NC entrepreneur raising $500K for California-based Chirp Innovations

CORNELIUS, N.C. – A North Carolina entrepreneur filed to raise $500,000 in equity financing for his California-based technology firm, according to a Securities and Exchange Commission filing.

Chirp Innovations Inc. has raised $100,000 so far, and the company hopes to raise $400,000 more.

Joshua Lippiner runs Noctivity Inc., (Noctivity.com) an Internet incubator and consulting firm that has been featured in the Seattle Times, Houston Chronicle and TechCrunch.

He is currently developing the world’s smallest tracking device for children and seniors. There were 460,699 entries for missing children in 2015, according to the FBI.

“We’re very close to creating something that will make a serious dent in this situation and let kids be kids without having to wear prison style ankle bracelets on their arms,” Lippiner said on his website.

The entrepreneur co-founded a software company, cPulse, LLC, in 1998. It monitored web visitors for over 360 clients, including including 18 percent of the Fortune 1000. A technology research firm, Gartner Inc., bought cPulse in 2000. Lippiner says his 25 percent stake in cPulse yielded in the “low six figures” after taxes and legal fees.

Lippiner spent “high five figures” to buy the domain name Lowfares.com. He sold Lowfares to Oversee.net for an amount in the “mid seven-figure range” in 2007. Read the background story at: http://www.forbes.com/2010/08/02/joshua-lippiner-twidget-entrepreneurs-technology-serial-startups-10-lippiner.html

Lippiner moved to North Carolina and created DMVCheatSheets.com in 2007. In less than two years, DMVCS helped over 30,000 people study for and ace their DMV written test. The company generated annual sales “in the low- to mid-six-figures” as of 2010.

Lippiner, 40, holds an MBA from UCLA and an undergraduate degree in finance and computer science from Lehigh University. He lives near Lake Norman with his wife and two young daughters.

Chirp Innovations claimed a Rule 506 (b) exemption. Companies relying on the Rule 506 exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

The filing can be read at: https://www.sec.gov/Archives/edgar/data/1373884/000137388416000002/xslFormDX01/primary_doc.xml

This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism