News Byte

While Waiting for JOBS Act, Equity Crowdfunding Raises Millions

MicroVentures said today that it has facilitated $16 million in equity crowdfunding investments, the type that regular people might be able to participate in after the JOBS Act gets implemented, but for now are limited to accredited investors. That space keeps growing; FundersClub claims $5 million invested to date, AngelList, $7.8 million and CircleUp, $10 million.

CircleUp Raises $7.5M Led by Union Square Ventures

One VC firm seems a little obsessed with crowdfunding.
CircleUp

Crowdfunder Targets the Social Enterprise

X Prize, Singularity University and others sign on to help social enterprises raise money.
Crowdfunder

Christie Street Launches a Kickstarter for Products

Still waiting on that Kickstarter product you backed? Christie Street says it has a better solution.
Christie Street

Kickstarter CEO: No IPO for Us, and No Equity Crowdfunding Either

“We think the most disruptive aspect [of Kickstarter] is the removal of the investment component,” said CEO Perry Chen.
Perry-Chen

SEC Moves Forward on JOBS Act — First Up, Allowing Companies to Ask for Money

SEC paves the way toward equity-based crowdfunding, but at a snail’s pace.
moneybags

Ahead of the JOBS Act Rush, CircleUp Launches Crowdfunding Platform

The new site CircleUp falls somewhere in between Kickstarter and SecondMarket, and it’s not waiting for the JOBS Act to get started.
CircleUp-feature

How Will the JOBS Act Affect Tech IPOs?

The JOBS Act makes it easier for some companies to stay private, reduces regulatory burdens associated with U.S. IPOs, and may move away from secondary markets for private companies.
JOB3

SecondMarket Lays Off 10 Percent in Light of Facebook IPO

SecondMarket, the marketplace for private company shares that built much of its business on pre-IPO interest in Facebook equity, laid off 10 percent of its staff today.
secondmarket_screen

News Byte

House Approves Revised Crowdfunding Bill, Sends It to Obama

The U.S. House of Representatives today passed with a vote of 380-41 a final version of the JOBS Act, revised to conform with the Senate version. The new bill reduces the amount that unaccredited investors are allowed to contribute to “crowdfunding” for small companies. It also pushes the maximum number of shareholders a private company can have without falling under financial reporting regulations to 2,000, from 500.