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Income for 2011-2013, net worth >< 1,000,000 and agreeing that you understand the risk of investing in startups, plus a signature
by jgj 14y ago
Income for 2011-2013, net worth >< 1,000,000 and agreeing that you understand the risk of investing in startups, plus a signature
- mkeung 14y agoLooking more into the law change (congrats btw), it would be nice to tell people a) if they qualify, b) if they don't right now, that you will notify when they can also participate
- jgj 14y agoI don't work for Wefunder, I just went through the application process and typed what I remembered filling out.
- niggler 14y agoI haven't tried it yet, but based on your statement: The requirement is `or`, not `and`: you are still considered an accredited investor if your net worth exceeds 1M and you have 0 income for the past two years. You are also still considered an accredited investor if you have 0 net worth yet have income exceeding 200K/300K The normal way a form is laid out is that it asks you how you are considered an accredited investor (circle one oval) and give the relevant information.
- rdl 14y agoTheir documentation was actually ambiguous until you submitted, too (I used to qualify on income but not assets, now I qualify on assets but not income; I wasn't sure if I'd go through, but did). IMO, I'd probably err on requiring more as an investment market like this, just to avoid the odds of an early lawsuit or other dispute -- $200k/yr AND HNW AND previous investment experience would be totally reasonable. But that obviously makes it harder to recruit people.
- jgj 14y agoI used >< as, literally, "greater than or less than".