ABOUT ME
General News
• (US) Colorado-based crowdfund investing platform Funding Launchpad uses SCOR regulatory framework to sell a $350,000 security for Couragent Inc., a company that produces mobile scanners. They are touting the issuance as the first security issued legally with to the crowd in the US.
• (US) The MIT Technology Review names crowdfunding an emerging and disruptive technology.
• (US) A nice infographic was published on the Indiegogo blog for the recent fundraising effort to raise money for a Tesla museum in New York State. They report that 201k people backed the campaign and that the average contribution amount was $41 in the effort that ultimately raised around $850k for the creation of the museum.
• (US) The SEC votes 4-1 to allow public comment on a rule change that would allow for companies to market (potentially, crowdfunded) securities they're offering to accredited investors, publicly. See the SEC's own summary here.
• (France) After some meetings in France, I've found out that the most respected French CFI portal is WiSEED.fr. Also, they've apparently just received a cease and desist letter from French securities regulators.
Deals
• (Argentina, Brazil) Argentinean crowdfunding platform Idea.me has acquired Brazilian platform Movere.me in an all-equity deal. Idea.me has given the owners of Movere.me a 15% stake in the platform in exchange for all of Movere.me's shares. The deal values Idea.me at $2.5mm.
• (Mexico) Reputable incubator 500 Startups has bought Mexican.vc. The founder of 500 Startups, Dave McClure is said to believe that investing in portfolio companies that are located outside of the Silicon Valley is becoming more and more feasible. I post about this because in the white paper I co-authored with Sherwood Neiss and Jason best on crowdfund investing, we argue that because venture capitalists tend to invest only in companies that are proximate to their own headquarters (usually the Silicon Valley), crowdfund investing helps de-centralize the availability of growth capital for startups..
• (US) GATE Technologies and Crowdfunder agree a "technology alliance" in the development of a funding platform that facilitates securities issuances to accredited investors. Assumedly, they'll build out the Crowdfunder platform together, but that wasn't especially clear from the press release.
• (US) San Francisco based CircleUp has agreed a partnership with General Mills "that will allow the massive firm to keep an eye on companies raising on the platform."
Site Launches
• (US) iCrowd.com starts looking for public attention. The site was co-founded by John Callaghan, who has vast experience in small cap securities and a prestigious academic record. It will seek to provide the platform and advise businesses issuing crowdfunded securities.
• (US) Citizinvestor.com is a Bay Area-based crowdfunding site that will focus on funding civic projects.
• (UK) Rebuildingsociety.com starts promoting itself. It's a UK P2P lending network that wants to "force revolutionary change" in the UK financial services industry.
• (The Netherlands) PifWorld, and online crowdfunding for charity website launches.
• (US) Watsi.org launches to crowdfund medical treatments for people in the developing world.
Posted by Davis Jones
• (US) Colorado-based crowdfund investing platform Funding Launchpad uses SCOR regulatory framework to sell a $350,000 security for Couragent Inc., a company that produces mobile scanners. They are touting the issuance as the first security issued legally with to the crowd in the US.
Hi Mr. Sinha. Thanks for your supportive comment–it's much appreciated. I'll post another news roundup on Friday of next week for you and the others who are interested in this subject.
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