NEXT ON CLBR – CROWD-FUNDING AND THE JOBS ACT

Congress Has Passed Legislation To Permit Start-ups To Use Crowd-funding To Raise Equity.
Our Panel Of Experts Will Walk Us Through The Business And Legal Considerations In The Cloud (Cee Below)

Today Is The Feast Day For Saint Isidore Of Seville Who – The Vatican’s Patron Saint For The Internet and the 44th anniversary of Dr. Martin Luther King, J.r.’s death.

OUR GUESTS

(1) RYAN CALDBECK – FOUNDER/CEO CIRCLE UP.

His experience in private equity exposed him to many great consumer and retail businesses that were too small to obtain funding through the customary private equity channels. As a result, he decided to make funding available to these small and promising companies through CircleUp. Ryan is a published author and frequent speaker at investor/crowdfunding

conferences such as TSL’s Los Angeles Capital Creation and Crowdfunding Conference.   Ryan received his MBA from Stanford and a dual BA from Duke, where he was a member of the 2001 NCAA basketball National Championship team.

SARA HANKS  – FOUNDER CROWDCHECK, INC.

CrowdCheck is  an internet-based business services company providing due diligence and other services to investors and entrepreneurs seeking crowdfunding.

DAN ABRAMS

A filmmaker trying to fund a project through Kickstarter.

From 9/25 Cyber Report

Crowd-Funding Close to Winning Congressional Approval

By a wide margin, the Senate joined the House in approving legislation that would permit companies to raise capital by crowd-funding.  The Senate CROWDFUND Act (Capital Raising Online While Deterring Fraud and Unethical Non-Disclosure Act) and the JOBS ACT (Jumpstart Our Business Startups Act) generally permit companies to raise up to $1 million through crowd-funding. The House JOBS Act was controversial because it eliminated disclosure requirements and other investor protections leading former SEC chief accountant Lynn E. Turner took to state that the bill “won’t create jobs, but it will simplify fraud.” The Senate abandoned House provisions which required no disclosures,  imposed no liability for false disclosure or oversight of funding platforms or promoters.   Senate passage certainly had to welcome by Crowdfunder.com which reports having nearly $15MM committed for 1027 companies.

More Info: Senate Passes JOBS Act, Approves Bi-Partisan Amendment Safeguarding Investors,  Senate Passes JobCrowdsourcing.org; Senate Passes Start-Ups Bill, With AmendmentsNew York Times.