Local sharing startup looks to raise $1M

A local startup that seeks to let people share or trade clothes and and other items is looking to raise $1 million from area investors. Milt Capps at Venture Nashville says the team at TuLook Exchange could build on that amount later next year as it looks to scale its platform.

TuLook users control which goods or services they offer to lend, trade or sell; and, they use whatever means of payment and delivery suits the parties. At their own discretion, each registered TuLook user must invite participation by friends and other connections they've already made via Facebook, Twitter or other social media. Then, each invitee must confirm their acceptance of the invitation. This double-confirmation allows the platform to be largely self-policing, Fazio said.