Crowd funding is still a hot area in the world of startups.
In 2012, President Barack Obama signed the JOBS (Jumpstart Our Business Startups) Act; this piece of legislation effectively lifted a previous ban against public solicitation for private companies raising funds. As of August 13, 2012, the Securities Exchange Commission has yet to set rules in place regarding equity crowd funding campaigns involving unaccredited investors for private companies; however, rules are expected to be set by January 1, 2013.
Similar changes are happening around the globe as regulators are trying to get to grips with the emergence of crowd funding.
In plain speak: We could soon become venture capitalists investing in startups over the internet…just like buying shares using an ebroker….imagine!
Startup Wahooly sought to circumvent the current issues around issuing equity for money by creating a way to issue equity for social media influence… A whole new reason to start tweeting till your fingers bleed!
Check it out and let me know what you think.