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Boise advertising agency Oliver Russell is acquiring the assets of startup Social Good Network, after the online fundraising company couldn't receive any additional funding beyond seed funding the company announced in late 2012. An investor in that seed round of funding said the move comes after investors have written off Social Good Network as a loss.
The two Boise companies share a founder, Russ Stoddard, who founded Social Good Network in 2011 with Antonia Chappell. Social Good Network raised $374,000 by October 2012, and Stoddard said the company attempted to raise its next round of funding, but was unsuccessful.
"Almost as soon as you receive funding, you go out and continue funding for your next round," Stoddard said.
Stoddard said there's no cash being exchanged in the deal, because Oliver Russell had a receivable...