Wefunder
 | This article needs to be updated. (September 2017) |
 | |
| Industry | Crowdfunding |
|---|---|
| Founded | 2011 |
| Founders | Nick Tommarello Mike Norman Greg Belote |
| Headquarters | , United States |
| Services | Entrepreneurship, startups, investment |
| Website | wefunder.com |
Wefunder is a crowdfunding service which connects startups with investors online.[1][2] Wefunder uses a provision in the 2012 JOBS Act which allows unaccredited investors to purchase equity in early stage private companies.[3][4][5]
Foundation
Wefunder was founded by Nick Tommarello, Mike Norman, and Greg Belote in 2012.[6] The startup incubator Y Combinator backed Wefunder during its development and launch.[7] The company raised more than $500,000 in 2012, receiving startup capital from nearly 60 investors, including angel investors Nihal Mehta, Dharmesh Shah, and Bill Warner.[8] As of 2019, the company has raised over $9.8 million from over 100 investors via the Wefunder platform.[9] Annual fund rate increased to over $200 million in 2021.[9]
Function and reception
Wefunder is predicated upon the idea that anyone, regardless of wealth, should be able to invest in a company.[10] As of now, only accredited investors are legally able to fund startups, and these investors must put up at least $1,000 to have an equity share.[10][11] Once the full deregulations promised by the JOBS Act are unrolled, the company plans to lower the barrier of investor entry to $100.[12][13] Tommarello said Wefunder's goal is to “fill the funding gap between angel investors and that first major round of capital.”[12]
See also
References
- ^ Luckerson, Victor (September 24, 2013). "The Crowdfunding Economy Is About to Pop". Time.
- ^ Pepitone, Julianne (April 17, 2012). "8 crowdfunding sites to watch". CNN.
- ^ Weisman, Jonathan (March 27, 2012). "Final Approval by House Sends Jobs Bill to President for Signature". New York Times.
- ^ Prive, Tanya (November 6, 2012). "Inside The JOBS Act: Equity Crowdfunding". Forbes.
- ^ Khazan, Olga (March 22, 2012). "JOBS Act: A potential boon for entrepreneurs or a bust for investors?". Washington Post.
- ^ "LinkedIn Page". LinkedIn.com.
- ^ Lawler, Ryan (March 19, 2013). "Y Combinator-Backed WeFunder Launches To Bring Crowdfunding Startups To The Masses". TechCrunch.
- ^ Rao, Leena (November 28, 2012). "Wefunder Raises $500K To Help Unaccredited Investors Put Money Into Startups". TechCrunch.
- ^ a b "Wefunder on Wefunder".
- ^ a b Grant, Rebecca (March 26, 2013). "Wefunder gives startups a 'green button' to meet their fundraising goals". VentureBeat.
- ^ "FAQ". Wefunder.com.
- ^ a b Isaac, Mike (March 19, 2013). "Meet Wefunder, the Crowdfunding Platform for Would-Be Investors". AllThingsD.
- ^ "Company of the Week - Wefunder.com". Mit.edu.
