Berkleleyside Launches Direct Public Offer Allowing Readers to Invest

Berkeleyside, a local digital news outlet covering Berkeley, California, has launched a “Direct Public Offering (DPO), to raise up to $800,000 from either accredited or non-accredited investors. The offer, launched on November 3rd,  is only available to California residents that meat certain suitability requirements. Berkeleyside has a permit from the state of California to conduct this offer.

Berkeleyside management states;

“Berkeleyside is reaching out directly to those who are already invested in our business in a different way: our community of readers. Our DPO gives you the opportunity to invest financially  in something you believe in and to support a local business, thus keeping your money in the local economy. You invest in Main Street not Wall Street.”

berkeleyside-dpo-ready-to-investInvestors will receive 3% annual dividends that will accrue over time if not paid out immediately. Investors must commit a $1000 minimum investment for shares (@$2/each) that are non-voting and non-convertible.  Berkeleyside recently stated that over $200,000 had already been raised.Certain perks are also associated with different tiers of investment. The securities offer is available directly on the Berkeleyside website.

The additional capital will be used to expand Berkeleyside’s coverage while improving technology and redesigning the news site. Berkeleyside is a Certified B Corporation.

Tracey Taylor, co-founder of Berkeleyside, tolda DailyCal;

“We’re asking people to invest in something that’s right in their community rather than outsourcing or going corporate. Everything we want to invest in are revenue-generating in themselves. We hope there will be large and small donations. We love the idea that we can go to the 100 percent, not just the 1 percent.”


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