These Guys Built a Crowd Investing Platform Even Though It’s Not Legal Yet

kickstarter girl walk crowd

It is illegal to invest $100 in a startup in exchange for equity or options unless you’re an accredited investor.

Still, a website for crowd investing launched today: Even though the law that would make it legal is still being debated in the Senate, TechStars alumni and Startup Workaway co-founders Nicholas Tommarello and Nick Plante went ahead and built WeFunder and wrote a business plan anyway.

“We’ve built out the crowd-investing platform in advance of the law passing, and have put in a lot of thought into how to best protect small investors,” Mr. Tommarello wrote in an email.

A disclaimer on the site reads:

Wefunder is a crowd-investing platform for startups. Until the current law is changed (hopefully soon!), our invite-only beta is only open to accredited investors. Read More


Luxury Hackathon! Startup Workaway Upgrades Villa, Hires Chefs for 18 Hackers

The Startup Workaway villa.

“So, an update,” writes Nick Tommarello, organizer of the tropical Startup Workaway, the latest twist in the hackathon craze, in which hackers will gather at a vacation house in Costa Rica for 10 days of coding and business development. “We ended up with 120 applicants–quite a lot of work to go through!” Mr. Tommarello, who lives in Boston, said. “We ended upĀ upgrading the villa. I booked a team of chefs to cook up three meals a day. And I’m in the midst of organizing some scuba diving, kayaking, and sloth befriending excursions.” Read More