StarEngine Launches Innovative “Refer and Earn” Contest: Winner Earns Up to $40,000 Cash and an Elio Car
LOS ANGELES – StartEngine, the leader in Online Public Offerings, today announced the launch of its innovative investor referral competition. Starting September 27th, the first person to refer the most investors who join StartEngine by December 31st, 2016 will win a grand prize of $20,000 from StartEngine along with a free Elio Motors vehicle.If the winner gets over 50,000 sign ups, StartEngine will double the cash and will give away $40,000.
The launch of this competition follows on the heels of the recent Jet.com announcement. Their own contest winner, Eric Martin, received 100,000 Jet shares and is now set to be a millionaire after that company was acquired by WalMart in a $3.3 billion deal.
“We are thrilled about launching the first referral competition in our industry as this will excite and engage all types of investors,” Howard Marks, Co-Founder and Executive Chairman of StartEngine said. “Eric Martin is an investor. He made an investment as an ordinary person before the JOBS Act permitted people like him to invest. Today, everyone can too. With OPOs you can go on StartEngine and invest in emerging companies, although everyone may not have Eric’s luck. We need people like Eric to help us spread this message to the world.”
This announcement comes after the new Regulation Crowdfunding (Reg CF) rules went into effect on May 16th, allowing companies on StartEngine to raise up to $1M. Companies on StartEngine were already raising up to $50M through Regulation A+. Both regulations allow accredited and non-accredited investors – the rest of the general population from middle class families, to hard working dads, to minorities – to invest easily in privately held companies for the first time in 80 years. Last February, StartEngine helped Elio Motors raise nearly $17M from 6,345 investor, 94% of which were non-accredited investors.
“People can spread the word and invite their communities to join our momentum through Facebook, Twitter, and other social media channels” Co-Founder and CEO Ron Miller said. “Now that the world of finance has gone online, we are committed to providing solutions that will drive engagement from those looking to capitalize on meaningful investment opportunities, while driving funding to startups and emerging businesses. Our goal is to help entrepreneurs achieve their dreams, while also providing investment opportunities to everyone and through referrals, and, we feel we can accomplish this goal.”
StartEngine also recently announced the StartEngine Marketing Fund, which advances companies that list on StartEngine up to $50,000 to help them market and promote their crowdfunding campaigns. Another incentive program recently announced was StartEngine’s fee-free Small OPO program (under Reg CF).
To learn more about the programs designed to help businesses reduce the cost of raising capital visit the StartEngine Blog.
About StartEngine
StartEngine is the leader in OPOs (Online Public Offerings), connecting Millennials and aspiring investors with tomorrow’s progressive companies. Based in Los Angeles, the company was created in 2013 by Howard Marks, co-founder of Activision, and Ron Miller. StartEngine aims to revolutionize the startup business model by helping individuals invest in private companies on a public platform for the first time in history, thereby helping entrepreneurs achieve their dreams.
Initial public offering
Initial public offering (IPO) or stock market launch is a type of public offering in which shares of a company usually are sold to institutional investors that in turn, sell to the general public, on a securities exchange, for the first time. Through this process, a privately held company transforms into a public company. Initial public offerings are mostly used by companies to raise the expansion of capital, possibly to monetize the investments of early private investors, and to become publicly traded enterprises. A company selling shares is never required to repay the capital to its public investors. After the IPO, when shares trade freely in the open market, money passes between public investors. Although IPO offers many advantages, there are also significant disadvantages, chief among these are the costs associated with the process and the requirement to disclose certain information that could prove helpful to competitors. The IPO process is colloquially known as going public.
Photo via VisualHunt.com
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