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Why is this Startup giving away edible lingerie, fortune cookies, and lobster tails?

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Why is this Startup giving away edible lingerie, fortune cookies, and lobster tails?
NEWPORT BEACH, Calif., Aug. 8, 2012 /PRNewswire-iReach/ -Crowdfunding is fast becoming the new buzzword in small business funding. A sort of mash-up between your favorite social network and flat out begging for money, crowdfunding is the newest way to raise money quickly without borrowing or getting in bed with a venture capitalist. In fact not giving up equity is basically a requirement at this point until the recent JOBS act provisions go into effect. The JOBS (Jumpstart Our Business Startups) act, is a law intended to encourage funding of United States small business by easing various securities regulations. It was signed into law by president Obama on April 5, 2012. It will provide a new exemption from the requirement to register public offerings with the SEC, for certain types of small offerings. This exemption would allow use of the internet "funding portals" registered with the government. Because the SEC has 270 days to implement the regulation, startups will not be able to use the crowdfunding exemption until early 2013. That's where perk-based crowdfunding comes in. Websites like Kickstarter and IndieGoGo are bubbling with projects getting funded by normal people like you. Companies looking to strike it rich give away anything they can think of to raise a buck. From an early release of their product to producing music videos in exchange for your backing, anything is game. One California foodie app startup called DishClips is taking things to a new extreme with their "Food Porn" IndieGoGo campaign.

Mixing double entendre with attractive food perks, they're giving away anything from edible undies and x-rated fortune cookies, to a monster sized supply of lobster and filet mignon to get the support of food fanatics everywhere. Their biggest perk at a whopping $7000 even offers to have you be the host of your own No-Reservations-style foodie show a la Anthony Bourdain. Judging by their pitch video, it's easy to believe it would be a good show. For their sake I hope no one in Juneau Alaska buys this perk. Success in crowdfunding has already been proven. Earlier this year a startup named Pebble set out to raise $100,000 to develop their e-paper wristwatch. Hang on to your seat. They raised $10,266,846.00 from 68929 different backers within only 60 days. In July of 2012, campaigner Max Sidorov raised a whopping $703,833.00 from 32270 backers to help arrange a well-deserved vacation for Karen Klein, the bus monitor victim of abusive school kids caught on video. Skeptics claim that the future of crowdfunding is uncertain and riddled with obstacles and potential fraud. Be that as it may, the change that has already taken place in the small business climate with the potential for this sort of funding is an economic miracle during the worst recession in several generations. After all, funding small businesses that are the lifeblood of communities should start at the community, not at a venture capital office.

Summary Crowdfunding is fast becoming the new buzzword in small business funding. A sort of mash-up between your favorite social network and flat out begging for money, crowdfunding is the newest way to raise money quickly without borrowing or getting in bed with a venture capitalist. Success in crowdfunding has already been proven. Earlier this year a startup named Pebble set out to raise $100,000 to develop their e-paper wristwatch. Hang on to your seat. They raised $10,266,846.00 from 68929 different backers within only 60 days.

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Skeptics claim that the future of crowdfunding is uncertain and riddled with obstacles and potential fraud. Be that as it may, the change that has already taken place in the small business climate with the potential for this sort of funding is an economic miracle during the worst recession in several generations. After all, funding small businesses that are the life-blood of communities should start at the community, not at a venture capital office.

Tags: Crowdfunding, Crowdsource, Crowdsourcing, DishClips, food, Food Porn, IndieGoGO

Posted by Benjamin Fossel

Aug 08, 2012 02:03 pm GMT Viewed 603 times

Author: DishClips Source

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Why is this Startup giving away edible lingerie, fortune cookies, and lobster tails?

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