Fiction Riot, the L.A.-based entertainment company behind mobile streaming app Ficto, raised $250,000 this week. Chief executive Mike Esola says the company has intentionally grown slowly, eschewing venture capital in favor of incremental fundraising from family offices, institutions and friends and family.

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The movie ends with the mother's severed head in the refrigerator. And it's in there because of the choices you made.

But you can return to the beginning, make new choices along the way and produce a different ending on Whatifi, a new, choose-your-own-adventure storytelling mobile app.

Mobile-first storytelling isn't exactly new. Nor is choose-your-own-adventure. But Whatifi founder Jaanus Juss believes his game plan to combine quality content, interactivity and socialization will make his app a hit, particularly with younger crowds.

"It's a new entertainment category that defines how the next generation will entertain themselves," he says.

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