Jump to content

Small Businesses Take Fundraising Public


JBird
 Share

Recommended Posts

A few days ago I had an old high-school acquaintance send out a message to all of his Facebook contacts (including me).  I haven't seen him for 22 years.

 

He's trying to raise money for his PhoRent business:  https://wefunder.com/phorentcom

 

So I guess he was blocked from this kind of direct solicitation before.  Have to say, I don't like being approached for money.  I wish the SEC didn't do that.

Link to comment
Share on other sites

A few days ago I had an old high-school acquaintance send out a message to all of his Facebook contacts (including me).  I haven't seen him for 22 years.

 

He's trying to raise money for his PhoRent business:  https://wefunder.com/phorentcom

 

So I guess he was blocked from this kind of direct solicitation before.  Have to say, I don't like being approached for money.  I wish the SEC didn't do that.

 

I was also recently approached by someone I used to work with many years ago.  I also did not like it.  I guess I don't understand it at all really.  I mean it's just asking people for money.  It's not like you get a piece of the business or even that it's a loan, it's just a "donation".  What irritates me is that it would be one thing if the guy was down on his luck or something like that, but he made decent money and comes from a well off family.  I don't get it.

Link to comment
Share on other sites

Guest wellmont

they are only supposed to be soliciting accredited investors. however, that stipulation will be dropped early next year. a disaster in the making. I think kickstarter is scam. but that's just me. :)

Link to comment
Share on other sites

A few days ago I had an old high-school acquaintance send out a message to all of his Facebook contacts (including me).  I haven't seen him for 22 years.

 

He's trying to raise money for his PhoRent business:  https://wefunder.com/phorentcom

 

So I guess he was blocked from this kind of direct solicitation before.  Have to say, I don't like being approached for money.  I wish the SEC didn't do that.

 

 

I actually like the concept... it's reminds of peer-to-peer car sharing (rental) .

 

The site needs a bit of help but interesting concept. I hope they (or someone else) make it.

Link to comment
Share on other sites

I think it's great, but the cap should be lower.  I don't think you should be able to raise more than $100,000.  The funds and success should be tracked somehow as well. 

 

How many great businesses were started on a shoe-string budget and funds from family and friends?  I don't think this is any different, except that it isn't limited to family and friends.  But it becomes dangerous when you solicit large amounts of money, and there is no way of holding people responsible. 

 

So, if there was some way to track people, funds raised, how they are utilized, and whether the business succeeds or fails, would be important.  You need to keep the repeat offenders, scams, frauds and bad bets out of the capital markets somehow.  Cheers! 

Link to comment
Share on other sites

  • 3 years later...

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...