Haytham Nasr is a co-founder of mygroup.me, an entertainment group based in Beirut, Lebanon. In an equity crowdfunding raise, he and his team crowdfunded a “million-dollar bar” in Lebanon called mybar.
The bar was a huge success initially, and within a year of opening investors had recouped 50% of their money. Within three years, the bar would shut down.
Nasr provides an interesting commentary on crowdfunding from the perspective of someone who has successfully raised money and failed. He cites soft Lebanese tourism as the reasoning behind the failure of the bar, but he clarifies that crowdfunding wasn’t the failure in his story. Watch below…