Why did profounder shut down

Letting everyone in not only showed them that we were being transparent, but it also got us lots of ideas and suggestions to help us get out of trouble. It was really pretty magical to watch how people gave us a lot of grace. It was a lesson for me in terms of personal struggles, too. The book would have been done a lot sooner had I really come to terms with, and understood, that chapter in my life earlier.

Entrepreneurs are supposed to go hard at all costs — just keep plowing forward and leave the disasters in their wake. One, that was the year that Kiva was born. Two is more personal.

I learned that I was still the same person — I still had the same dreams and still went forward to the same destination. Enter the terms you wish to search for. A new book offers a candid look at the startup life. January 07, Start your day with something GOOD.

Trending Stories. Featured Articles Bioluminescent plants could be the sustainable light source of the future. As statues fall, an answer for who should be placed on pedestals is revealed. With a superstar team that included Jessica Jackley, a founder at Kiva , at the helm, it seemed as though ProFounder would actually be able to deliver on disrupting the startup investment ecosystem. Currently, to invest in a private company, people must be accredited investors.

It seems like the folding of this company has less to do with the effort and competency of the team and more to do with the legislation that has stalled in the US Senate. It was passed by the House, but there is speculation that it will not pass in the senate due to concerns about securities fraud coupled with the fact the the majority of U. This stifles innovation because there is only one class of people that founders must impress if they want their startups to survive.

The ProFounder founders are encouraging everyone who cares about the future of crowdfunding to go to the website legalizecrowdfunding. The startup community must get involved en masse if we want the future of crowdfunding to be brighter.

There is a logic behind placing such restrictions. The next round is called Series A. At this point the company already has traction and may be making revenue. In Series A rounds venture capital firms will be participating alongside angels or super angel investors.

The next rounds are Series B, C, and D.