SeedInvest Campaign - Discussions with Richard Garriott / Lord British

Less than 4 hours to go.

 

Great post. Thanks for sharing it.

 

Spoiler

 

I step away for a few hours and it goes over 700k...LOL! My roommate says it's gonna go to 750K. I'd love that

 

This campaign at least to me was an utter fiasco.

it is so hard to invest being on a foreign country with so many bureaucratic steps and wire transfers nobody and not even my bank consulters know how to work... the data provided on seed invest is to scarce, i don't know whether it were western union or whatever, my wire form from my bank seemed too lacking and complicated, i tried to redo this several times, and i MEAN several before this... thing... just don't work.

much easier to work with paypal and internet companies. if you guys had opted to put seed invest only on accredited investors that requires regulation, your fund now would be far from just 700k. but i guess legislations always comes to complicate and make the simple, impossible (a simple pay by credit card one-touch paypal is far better to fill up than a Wire form, for those not familiarized, with so many rules and distinct behaviors one form like that has and with so many cryptic information you must be a specialist yourself just to pay for your stuff)

and i don't understand how i can spend 7000 bucks here in paypal, but can't send 2 via a freaking wire cause either swift number won't work or my form only shows options to transfer to physical persons, not companies... and from a campaigner pov... just reminding that those of us who simply can't complete a payment will never be able to participate, no matter how eager you are.

yeah, sorry @Lord British , but this for me is being a huge frustration. i am sick, suffered an accident and was still trying to keep with my financial agenda to participate, but the process you put up was just too complicated and lacking for many of us.

(sorry for hast spelling, i am typing from a hospital under heavy pain medication, where i was attempting the whole freaking day to complete this.... thing.... since last week, unsuccessful)


feeling, really,really frustrated here...

sorry.
:/

 

I am so sorry Sir Leonard to hear of your situation. It is never good to be in hospital. I do hope you recover fully.

As for the investment difficulty, it is a shame the regulations in place, put there by your government, the US government or both have been such a nightmare for you to navigate. :-( Sadness....

 

I couldn't use a swift number either - you have to do an offline wire transfer - once you select that option, and go through with your investment Seedinvest will email you instructions on how to do the transfer. I went to the bank today and got them to do it for me. The guy at the bank said I could apparently do it via my netbanking too via an international money transfer. I had to put SI securities as the beneficiary. I have found it frustrating as well - hence I went into the bank in the end - I wish you could do the same

 

Spoiler: It Went Down

 

I find it interesting that the number of investors went up with the amount raised going down. Its still a positive i guess.

 

Looks like the final tally, as of 11:00pm CST, is $698,704 with 518 investors.

 

Glad it ended well.

 

they're still counting. 12:22 EDT and 701,204. countdown is gone but the invest button is still there

 

so I found this on the seedinvest website, does this mean they will be investing 200k on top of what has been raised?

https://www.seedinvest.com/about

"The SeedInvest Selections Fund is currently investing $200,000 alongside each company that successfully raises capital on SeedInvest under Regulation D. The fund is targeting investments in 50 companies over the next two years ..."

I think it does, here is a bit of blurb that would suggest they do invest an additional 200k

• Founded: In 2012 by Ryan Feit and James Han as a simple way to invest in early stage companies online
• Headquarters: New York, New York
• Total users: 184,906
• Successfully funded companies: 220+
• Average investment per company: $500,000
• SeedInvest Fund co-investment per deal: $200,000
• Largest investment: $2,000,000

 

$701,705 and 520 investors. i'm gonna assume they're letting through every transaction that was initiated before the close. may take a few days to know the final.

 

It may take a few days for recent transactions to fund.

 

I like the idea of a plattform like Seedinvest, but if you do not live in US, it is a nightmare to invest money with Seedinvest. The payment methods they offer
are somewhat of oldfashioned and I honestly would never again invest any cent, if they do not offer better ways to transfer money (Credit Card, Paypal etc...)

I'm still not sure if my investment will find its destination (my banker was 1/2 hour working on the wire*)...the fee's for such a wire a from Switzerland are approx. 50 USD (!!!)

I think they give away a good potential of investor money just because working with an plattform that focus mainly on US investors....

*even that word is form the last century.......

 

Ya SeedInvest is a cool idea although hopefully it will relatively soon be replaced by something that runs on a blockchain.

No need for intermediary fees, SWIFT, or other pesky things getting in the way.

 

It would be enough if our US friends would play the game of international payments the same way 98% of the rest of the world is playing it.
That or just accept CCs, lol.

 

Do something like everyone else? That's UnAmerican!
From Healthcare to the Metric System, we forge our own way! </sarcasm>