Republic, the Reg CF crowdfunding platform related to AngelList, has had its first successful funding round. Youngry, described as the ESPN for entrepreneurship, successfully completed its equity crowdfunding offer topping its goal by 130%. Youngry successfully raised $65,920 from 143 investors in its 75 day crowdfunding campaign on October 15, 2016. Youngry raised capital using a “Crowd Safe” at a valuation of $2 million. Youngry stated it also collected 50,000 email addresses during 20 live events from 30 different entrepreneurial ecosystems.
“It is truly inspiring that we could launch our upcoming media company to our core audience of entrepreneurs and angel investors and have them invest in us from day one with the amazing Republic platform,”said Youngry cofounder Ash Kumra. ”This is the Entrepreneurial dream and why we do what we do! We can’t wait to capitalize on the faith Republic’s users have put in us.”
Youngry wants to “dominate” the entrepreneurship ecosystem using a diverse group of high-profile advisors and writers including female angel and TV host Jesse Draper, Best-Selling Author and Venture Capitalist Ryan Blair, CNBC TV Investor Star/Kumar Arora, Best-Selling Author Dave Meltzer, crowdfunding & Fintech Influencer Josef Holm, Apl.de.ap from the Black Eyed Peas and more.
Youngry says it has developed a content and revenue partnerships with entrepreneurial organizations including Startup Weekend, WeWork, Draper University, Amazon Exclusives, Startup Drugz and over 50 contributors currently contributing content for the forthcoming launch.
Republic is operating under Title III of the JOBS Act – also called Reg CF. This new securities exemption allows issuers the ability to raise up to $1 million from both accredited and non-accredited investors. Republic launched its platform in July of this year soon after the exemption became actionable in May. Republic is targeting small companies in need of growth capital. Republic was founded and built by Angellist alumni who believe angel investors are the catalysts to change in the world.
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