Should you use Profounder to fund your startup?

#1

Post by jasonmcalacanis » Wed, Dec 01, 2010, 6:09 PM UTC

I'm fascinated with crowdfunding of startups/projects/etc. So I had the founders of Profounder and Crowdrise on This week in Startups

The roundtable starts about five or six minutes in (if you want to skip my banter with Tyler about turning 40!). Thanks to .co and sendgrid for sponsoring this episode!

Should you use Profounder to fund your startup?
youtube.com

Re: Should you use Profounder to fund your startup?

#2

Post by bradleyjoyce » Wed, Dec 01, 2010, 6:16 PM UTC

It looks interesting for sure. I signed up while I was watching the interview yesterday, but didn't see anywhere on the site where I could actually submit information about my startup for funding... it just gave me an investor profile.

Re: Should you use Profounder to fund your startup?

#3

Post by walkercorplaw » Wed, Dec 01, 2010, 6:21 PM UTC

As I discuss on Quora, there are significant securities-law issues that must be addressed (see http://bit.ly/egcdr5). My advice to all startups is to be very careful with these kinds of sites. I have gotten calls from several entrepreneurs who have run into problems with securities regulators. Thanks, Scott (@ScottEdWalker)

Re: Should you use Profounder to fund your startup?

#4

Post by bradleyjoyce » Wed, Dec 01, 2010, 6:26 PM UTC

walkercorplaw wrote: post #3

As I discuss on Quora, there are significant securities-law issues that must be addressed (see http://bit.ly/egcdr5 ). My advice to all startups is to be very careful with these kinds of sites. I have gotten calls from several entrepreneurs who have run into problems with securities regulators. Thanks, Scott (@ScottEdWalker)

you might watch the interview for quite a bit more insight into their approach. It seems they have spent quite a bit of time/money making sure everything is kosher.