LegionM is now the second Reg CF offer to hit $1 million. The offer was scheduled to close later this month but under the securities exemption, issuers may only raise up to $1 million.
The first Reg CF offer to ring the million dollar bell was also listed on Wefunder. BetaBionics closed at $1 million at the end of last month.
LegionM is the “first fan funded entertainment company.” Founded by Paul Scanlan and Jeff Annison, the duo envision a crowd-sourced entertainment company that creates, develops and markets film, games and more. LegionM states it has partnered with top-tier Hollywood executives with the first projects expected to launch before the end of the year. A list of projects under consideration are available here.
LegionM explains its vision;
We’re using proven business models for content production and adding a twist that gives us a competitive advantage. That’s because getting fans involved in projects makes those projects more likely to succeed when they are released. Whether you’re a producer pitching a show to a TV network, a studio trying to drive audience to the theater, or an up-and-coming Youtuber trying to break out of the basement, having a legion of fans behind you can mean the difference between success and failure. The power of Legion M is the Legion. The bigger the we get, the more valuable we become.
Wefunder has taken an early lead in the Reg CF crowdfunding sector and has listed more offerings than any other crowdfunding portal. Wefunder launched prior to Title III/Reg CF being available by offering investments under Title II of the JOBS Act for accredited investors. Wefunder raised capital for Zenefits – before it became a well known Unicorn.
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