Well known “Shark,” from CNBC’s popular investment show “Shark Tank,” Kevin O’Leary (AKA Mr. Wonderful), is crowdfunding on StartEngine.
O’Leary has listed a company he co-founded – Beanstox, a savings and investment app, that is seeking up to $1.07 million under the Reg CF securities exemption.
O’Leary controls 50% of the company and his co-founder, Connor O’Brien holds the other 50%.
According to the offering page, Beanstox has raised $407,000 from 712 investors. The offering is for equity at a pre-money valuation of $15 million.
The automated investing startup explains its value proposition as follows:
“Our team at Beanstox developed an app that enables people to start investing their money in minutes. We realized that an effective solution must be both serious and simple, with an investment approach designed to combine saving with automated investing to “use the power of compounding”.
Investors receive personalized portfolios and recommendations based on their individual investment goals and risk tolerance levels. Investors set the amount they want to add to each investment goal every week or month, which is then automatically invested.”
O’Leary recently mentioned Beanstox on ABC apparently. The mention generated 3000 downloads. The App expects to benefit from O’Leary’s significant media presence and social followings including over 3 million people on LinkedIn, Instagram, YouTube and others.
The crowdfunded securities offering expects to generate 200,000 additional downloads.
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