Adam Carolla, a comedian/actor etc., visited the studios of CNBC earlier this month to talk about a securities crowdfunding offering which recently closed on Microventures.
Carolla has bounced around the rewards space a bit raising funds on Indiegogo and the now-defunct FundAnything site. While on CNBC, Carolla explained there are three ways to finance his films – rewards, he pays for it all (and then sells it) and by selling securities where investors may participate in the success or failure of the project.
Carollo closed his Reg CF crowdfunding round on Microventures raising $402,000. The project went by the name of Flower Street Docs and is for the production of two documentaries.
So what do the investors get? Revenue participation.
According to the offering page, investors may expect to receive 100% of adjusted gross proceeds of the film up to 115% and then 50% of any remaining adjusted gross proceeds up to 150% return on their investment.
Of course, the film could flop or never be made due to any number of reasons.
For Carolla, by involving outside investors it mitigates some of his risk.
“This we are going to treat just like a business,” said Carolla. You put the money in and we build the product. “It seems like it might be the new world order.”
If you are interested in more detail on the security offering you may review the Form C here.
The video is available below.
Comedian, podcaster and writer @adamcarolla spoke about the two upcoming documentaries he’s developing through a partnership with Micro Ventures crowd-funding.
1) Meme Gods – exploring the culture of memes
2) When we went MAD! – the history and rise of MAD Magazine
via @CNBC pic.twitter.com/9LRNTG0r6y
— Squawk Alley (@SquawkAlley) August 12, 2019
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