Geostellar successfully crowdfunded on Republic last week and became the most funded campaign on the platform to date. According to the campaign page, Geostellar attracted the support of 729 investors who invested $325,308 on a minimum goal of $50,000.
Geostellar is a platform that is said to “instantly” design a solar plan for any home or business. Their patented service allows individuals and groups to launch “Solar Clubs” to help boost solar energy utilization while earning revenue. Local “Solar Club promoters” can accelerate solar energy growth by “overcoming the fossil fuel inertia.” The Geostellar site has a nifty little feature that estimates how much solar energy you can generate by simply plugging in your home or business address. Geostellar generated about $3.5 million in revenue last year.
So what did investors get when they backed this Reg CF crowdfunding company?
Geostellar used Republic’s bespoke “Simple Agreement for Future Equity” or SAFE. This Crowd Safe is effectively an option on the possibility of having the option to purchase equity in the company at a future date IF certain milestones or events take place. Using a SAFE also means the company does not need to place a valuation on the firm until a future date. Geostellar expects to do an initial public offering via a Reg A+ crowdfunding round later in 2017, followed by a listing on a public exchange.
An interesting twist to the Geostellar offer is the fact the company intends on launching an Initial Coin Offering (ICO) at some point in the near future. Capitalizing on the hot ICO market, Geostellar says it will issue a “solar powered cryptocurrency named Zydeco.” These Zydeco tokens will each represent one Watt of solar energy. Funds raised will be used to boost more solar projects, of course.
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