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.
We 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.
We 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.
So 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."
They 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.
Hmmm. 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..."
14 comments
[ 3.4 ms ] story [ 41.9 ms ] thread> 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.
http://www.sec.gov/answers/regd.htm
Not signing up..
- 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.
"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..."