We kicked off our community crowdfunding campaign on May 16, the very first day investing for everyone became possible. Initially, we were planning on launching our campaign in July at the Children with Diabetes Friends for Life conference with a wonderful new video about Beta Bionics. However, our great partners at Wefunder convinced us to “soft launch” on May 16 just for fun. Wefunder told us that we can always post our video in July when it is ready. Well, our soft launch became the largest crowdfunded stock offering in the United States! As we write this, just eight weeks after launching our campaign, we have exceeded the $800,000 mark, which is amazing. We also have that video ready for you, so please take a look below.
Because of the SEC crowdfunding securities regulation, we anticipate that we will be oversubscribed, meaning that we will be prohibited from selling to all of those who have expressed interest in buying shares. So, be sure to log into your Wefunder profile and tell us about yourself. If we are oversubscribed, we will select our investors based on: (1) their personal connection to the T1D community; (2) their personal reason for wanting to purchase shares; (3) their prior personal connection to the bionic pancreas project; and (4) any other compelling personal reason for wanting to be an investor. Here is an example of how to complete your profile:
Wefunder supports three different federal laws that allow startups to raise money legally. To comply with the law, Wefunder Advisors LLC and Wefunder Portal LLC (both owned by Wefunder Inc) also list startups depending on the regulation used.
Legal May 16th 2016
Wefunder Portal LLC
for 300 startups
Wefunder Advisors LLC
for 102 startups
for 3 startups
Curious how well the companies have done? Or how many raised follow-on financing?
Some fine print: 1) These numbers include startups currently live on Wefunder if they pass their minimum target. 2) Some startups use two different laws at the same time (i.e., Regulation D and Regulation Crowdfunding).
Join 616,747 investors who funded 386 startups with over $136.5 million1
wefunder.com/updates/88761-new-video-oversubscription is managed by
Wefunder Portal LLC.
Wefunder Inc. runs wefunder.com and is the parent company of Wefunder Advisors LLC and Wefunder Portal LLC. Wefunder Advisors is an exempt reporting adviser that advises SPVs used in Reg D offerings. Wefunder Portal is a funding portal (CRD #283503) that operates sections of wefunder.com where some Regulation Crowdfunding offerings are made.
Wefunder, Inc. operates sections of wefunder.com where some Regulation D and A offerings are made. Wefunder, Inc. is not regulated as either a broker-dealer or funding portal and is not a member of FINRA.
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