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Because the law is complex Kickstarter's TOS disallow equity as a reward anyway. ProFounder was set up to cover this case, and gives you guidelines to stay in
by ianterrell 15y ago
Because the law is complex Kickstarter's TOS disallow equity as a reward anyway.
ProFounder was set up to cover this case, and gives you guidelines to stay in the clear legally. https://www.profounder.com/ https://www.profounder.com/
- alain94040 15y agoI have been playing in that space since 2008. ProFounder is doing it wrong because technically, people can only invest if they have a pre-existing relationship with the founders, which by definition exludes anyone found through the site. Not good.
- kalvin 15y agoNo, ProFounder requires users to send non-transferrable email invitations to their friends and family (or "community"), i.e. pre-existing relationships. Afaik they don't provide a way to meet investors on the site, like you're suggesting. For how they address other potential legal issues, go here: http://www.quora.com/Is-ProFounder-in-violation-of-any-securities-laws-with-their-crowdsourced-model-for-funding-startups?q=profounder http://www.quora.com/Is-ProFounder-in-violation-of-any-secur...
- nhangen 15y agoThat's the problem - nobody wants to hit up friends and family members. I think Angel.co does a better job than profounder.