The Ban on General Solicitation is No More
Today, the JOBS Act has been partly enacted - the ban on general solicitation has fallen! For the first time in 80 years, it's legal for startups to talk about their fundraising publicly. The world just changed.
To celebrate, we are featuring great 25 startups from Y Combinator, Techstars, and MIT. You can pick your own winners, and invest as little as $1000 in them... or invest $5000 in a fund with all 25. We're excited to be able to show an "invest" button publicly! Can you imagine trying to build Kickstarter without the buy button? That's the challenge we've faced until now.
Complying with securities regulations is complex and expensive... but we've spent a lot of time reducing costs. So, we've decided to pass on those savings, and drop our investor fees to $25 per investment and 10% carry! We aim to profit when you do: on a successful investment. That way our incentives are aligned, and we can focus on attracting high-quality companies.
On a sad note, the recent change in law affects only accredited investors.... for now. It's legal for startups to advertise their fundraising, but it will be mid-2014 until unaccredited investors can invest. So, if you have less then $1M in net worth or earn less then $200k a year - hold tight! It'll be at least 9 months until you can make investments. (We're sorry; we're as bummed as you are.)