We’re honored to have been picked up in the New York Times small business blog recently. If you haven’t seen the blog article yet, check it out here.
Our CEO, Freeman White, has been down to DC twice over the past two weeks to meet with the legislative analysts advising key Senators on the legislation highlighted in this New York Times piece. The legislation, either S. 1791 or HR 2930 would allow very early stage startups to offer their investment in their companies on public crowdfunding platforms like Launcht. This would turn crowdfunding into “crowdfinancing” or “crowdfunded investment”. This is huge, as the types of funding on Launcht and most other crowdfunding platforms are essentially variations on gifts or donations.
Freeman has had great conversations with the staff from the Senate offices of Patrick Toomey (R-PA), Robert Casey (D-PA), Bernie Sanders (I-VT), Patrick Leahy (D-VT), Scott Brown (R-MA), and Robert Menendez (D-NJ). Senators Toomey and Menendez sit on the Senate Banking Committee which is reviewing both bills currently and which is likely to vote on the bills to send a version to the Senate and House this month.
If crowdfunded investing becomes legal, you will see Launcht very quickly adapt to allow businesses to raise invested capital on Launcht. Indeed, we are already making the technical preparations necessary to facilitate this switch. If you like the sound of this, please call your Senator today and tell them you are in favor of the crowdfunding legislation currently before the Senate Banking Committee. Otherwise, choose you favorite business on the crowdfunding competition we are hosting and contribute towards their cause.