Our Crowdfunding Network Is Growing Part 6

Yesterday we passed 70 investors in our Fundrise network with $6.19M committed as a possible investment from our subscriber base. That's not too shabby for 3 weeks of effort. Things have slowed down some lately, but we still get a few investors trickle in here and there. My sense is that we need to test the waters on the site for us to be able to find folks that are interested. I have a meeting set up with Catlin from Fundrise next week to discuss making that happen.

The iFunding guys are set to get back with me on Monday about several questions I posed. We did learn a lot about screening procedures under a Reg. D solicitation this week and I am curious about how they interpret the rules. I'll blog more about this after we get a chance to speak with Crowdbouncer next week. Crowdentials was very knowledgeable about screening matters and I was pretty impressed with what they shared.

I met with David Laven, a securities attorney referred by Fundrise today. He explained more about Regulation A+, Regulation A, and the revised Regulation D. It seems like doing a test the waters campaign and developing a Regulation A offering is the best course of action for us at this point. We can then down-select folks for a bigger Regulation D offering in the future or operate under Regulation A+ once the rules are fully implemented.

I also spoke with a few Harvard alums who are going to be doing a presentation in late April that will have a panel. I may be asked to speak on the panel when it is formed and they're talking about doing some online panels as well. If those plans firm up some I'll blog more about it.

Overall I am probably about 30% of the way through my investigation about all of the new rules. I'll add some posts on BP to solicit input from others about their experiences too once I know more.