StartEngine Fires Up Equity Crowdfunding as Regulation A+ Allows Anyone to Invest

Paul Elio and Elio Car

Los Angeles based StartEngine has launched its equity crowdfunding platform on the day that Regulation A+ now allows anyone to invest in early stage companies – not just the very rich.  According to company representatives, StartEngine will target aspiring investors – including North America’s over 80 million millennials – a sector of society that has matured doing just about everything online.  StartEngine is launching with two partners; Elio Motors and mobile game publisher XREAL.

Regulation A+ is a new exemption that has beed described as a “Mini-IPO”.  Previously only Accredited Crowdfunding has been available. These were Reg D private placements that were offered only to the very wealthy. Regulation A+ may usher in a new era of investment democratization as any investor will now qualify.Ron Miller

“At StartEngine, our goal is to not only become the leading equity crowdfunding platform, but to help entrepreneurs achieve their dreams,” said StartEngine CEO Ron Miller. “We’ve built an industry leading platform to allow companies to take advantage of the greatest advancement for entrepreneurship in a generation. Companies can now advertise the sale of their stock and anyone, not just wealthy people, can invest.”

Founded by Paul Elio, Elio Motoros is a transportation startup that has created an economical, transportation alternative that’s affordable and environmentally friendly.  An “ultra high mileage car (84 MPG) – the 2-seater expects to retail at only $6800.00.  The car is said to be a great vehicle for first time drivers, college students and “clunker” owners.

“Partnering with StartEngine was a natural fit, since Elio and StartEngine are both built on the principle of efficiency and cutting out unnecessary obstacles in the way of progress,” said Elio Motors founder Paul Elio. “StartEngine is poised to disrupt the course of traditional investment, just as Elio aims to alter the course of how people commute.”

Also joining Elio on StartEngine’s first day is XREAL, a mobile game developer in the eSports sector. XREAL was co-founded by Jordan Maron (YouTube’s CaptainSparklez – 8.6 million subscribers) and Howard Marks, co-founder and former studio chairman of Activision and Executive Chairman of StartEngine.

Jordan MaronXREAL’s first title is Fortress Fury, a competitive tower building game that reached more than 1.5 million downloads in its first month in the marketplace.

“StartEngine’s alternative investing platform makes it possible for anyone to back the companies they believe in and truly share a stake in their success,” said XREAL co-founder Jordan Maron. “We’re thrilled to be raising funds in a progressive and personal new way that better resonates with my generation.”

StartEngine wants to empower entrepreneurs AND investors. Recognizing that much of the population has been cut-out from access to early stage investing, StartEngine wants to address this disparity.  Regulation A+, from Title IV of the JOBS Act, is another step in that direction. As of tomorrow issuers may file with the SEC and begin testing the waters to measure investor interest. While investing in early stage companies is a risky asset class, too frequently Howard Marksopportunity in promising startups such as UBER or Facebook, have been made available to only the very well to do.

StartEngine was created in 2011 by Howard Marks, co-founder of Activision, a $14 billion market cap video game publisher, and Miller, a four time Inc. 500/5000 Award recipient and professional entrepreneur who has successfully founded five companies.

 

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  • nuckinfuts

    startengine.com is a legitimate site, but that is where the positive feedback ends. I have invested using their services in the past, but ran into a problem recently. I received an email notice for a failed investment payment. The only problem was, I had not made the investment. I received an NSF statement/charge from my bank due to startengine.com attempting to pull funds from my debit card used previously for a legitimate purchase.

    I notified them that I had not made the investment in question, via email. I received a response with an apology, and that they would look into it. I contacted my bank to dispute the NSF charge, reporting the fraudulent attempt to pull funds, and had the fees refunded. Easy enough… you would think.

    3 days later, they attempted to pull the same funds again, and this time were successful in pulling $350 from my account. I again contacted them, via email (can’t find a phone number to call), and have been ignored ever since. It has now been 3 weeks and there has been no resolution. I have filed a claim with my bank and cancelled the card in question.

    Do NOTdo business with this company. You are nothing more than an ATM for them once they get your CC number.

  • Scooby Doobydoo

    Expect to get laughed out of your neighborhood if you actually buy one of these clownmobiles…

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  • estewart44

    What is the process in which an investor sells his shares, hopefully for a profit? I see an easy way to GIVE AWAY your money, but I don’t see an obvious way TO GET IT BACK. As well, when do I get to see a balance sheet? How many shares are they selling? Who values those shares and does the due diligence – or is the “investor” (a.k.a. rube), the one who does must due (ahem) that – IOWs: buyer beware? Risk on, to be sure. Seriously, I’m not saying they are out to fleece naive millennials, but if these questions cannot be answered in plain English (a 5th grader can understand), I have a hard time recommending this whole process – and staying quiet about it as well.

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  • zoplay

    Crowdfunding” in this case referrs to the selling of ownership of a company to the common public in order to raise money. It does not refer to the selling of products and intangibles in order to raise money, which is what Kickstarter does currently, and it is not AT ALL covered by this regulation. I repeat: what Kickstarter does currently is completely unrelated to this regulation.

    —————–

    John King

  • rogwild

    Elio Motors is not a ‘New Company’, they’ve around since 2008, and have a
    ‘history’.
    Just remember, back on (Sep 6, 2013); “Founder Paul Elio told Red
    River Radio that 25 prototypes are – under construction — in
    Detroit as the company enters into the product testing phase. “
    (Never happened)
    – BEWARE — Elio Motors has been taking ‘RESERVATIONS’ for 2 ½ years, but is
    still short $230 MILLION needed to reach ‘production’. –
    In fact, their $100 – $1,000 reservations DO NOT guarantee that you
    will ever get a vehicle; Elio Motors says: “ we are under no
    obligation to supply you with a vehicle.“
    – And when asked, they refuse to provide which ‘reputable financial
    institution’ is responsible for their “Refundable” escrow account.
    – Even with the “$17 million collected for “reservations”, they have
    NOT BUILT nor TESTED one complete Pre-Production Prototype with
    operable systems to ‘validate their claims’ of fuel economy, or
    safety!” …. since 2008.
    – If you ask any ‘difficult’ questions, or express ‘discontent’ on their
    FaceBook page, it is [DELETED], and you are “BLOCKED”!
    Interesting ‘concept’; but NO WAY they will be in production and on
    the road, by Mid-2016, as they ‘claim’. – Their ‘Production Date’
    has already ‘slipped’ from Jun/Jul 2014 → 1st Qtr 2015 → 3rd Qtr
    2015 → to First ½ 2016! (now mid to late 2016?)
    – They have NOT demonstrated their “84mpg” and do not guarantee
    their ‘selling price’ of $6,800. They have never ‘demonstrated “at
    least 75mpg” to QUALIFY for the ATVM LOAN. They are ‘fleecing’
    our citizens.! Do your ‘Homework’!

  • congrats to startengine it sounds like you are to equity that PICISI will be to rewards CF

  • Samuel S. Guzik

    Congrats to Ron Miller and Howard Marks! (Title) IV down – III to go!