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Show HN: Our Equity Crowdfunding Platform Is Officially Live
- gamblor956 14y agoThey appear to be using the Regulation D exemption to SEC registration, so generally among the other restrictions: - no soliciting or advertising the offering to the general public (though state exceptions to this limitation apply for offerings < $1 million) - all investors must receive restricted shares (shares which are not publicly tradeable for at least 6 months without registration) If seeking investment of greater than $1 million, generally... - company financial statements must be audited - no soliciting or advertising the offering even pursuant to state exceptions Note that Reg D precedes the crowdfunding bill, so the restrictions will probably change/go away when the appropriate federal agencies finally issue regulations promulgating the new crowdfunding rules.
- marcstein 14y agoCongrats!
- rafadeharo 14y agoGreat news!!!
- nodesocket 14y agoWhy is the maximum amount an individual can invest $5000? Even trying to raise $100,000, that is 20 people. Is this a limit baked into the law?
- acremades 14y agoMaximum and minimum amounts are set by the startup. On average $1k-$5k is the lower range of investments.
- tptacek 14y agoThere is something jarring about the concept of jewelry designers pulling in mid-six-figures from accredited investors.
- kybernetyk 14y agoFirst: Cool idea. > Minimum investments from $1,000-$5,000. Hmm ... imho that's too much for 'casual for the fun investing'. I'd be willing to 'invest' $250 into some cool idea just because I like it. But $1k is over my pain barrier for mindlessly throwing money at stuff and most probably lose it. Also are there already startups signed up? I can't find a way to browse active projects.
- acremades 14y agoWe have over 6,000 registered startups and 3 are currently in preview mode before accepting investments in 6 days. One of them won the “Audience Choice Award” at TechCrunch Disrupt NYC.
- ph0rque 14y agoI'm assuming that the accredited investor requirement is still in place (i.e. this isn't the new JOBS investment opportunity)?
- acremades 14y agoCorrect. We are operating via Regulation D. http://www.sec.gov/answers/regd.htm http://www.sec.gov/answers/regd.htm
- hnwh 14y agoWhy do you need to access my connections, and send messages and invitations as me? http://d.pr/i/Ikf2 http://d.pr/i/Ikf2 Not signing up..
- acremades 14y agoWe don't automatically send anything through LinkedIn. However, we have a feature that allows an entrepreneur to send an invitation to someone else via LinkedIn's API. In order for that to function we need the permissions you are referring to. When we have more time we will probably reduce the number of requested permissions for general users.
- MisterBastahrd 14y agoSo this is completely worthless to the average person on the street, since you have to be an accredited investor in order to participate. This is no more "crowdfunding" than getting on a private jet is "crowdboarding."
- mdda 14y agoHmmm. The video pitch seems to put them in an investment banking/advisory role, whereas their Ts&Cs disclaim everything : "For investors, you can rest assured that the deals you're seeing on our platform are highly vetted, and they're top-notch. We've done the homework, we've done all the due diligence, we've done the background checks..."