Disclosure certainty 4/5 debate potential 1/5

Chad Newell: Snapwire has never done a priced round

Chad Newell · EP 484: $7M Raised with StartEngine CEO and CrowdFunding SnapWire CEO · Nov 20, 2016 · at 13:10

Chad Newell, CEO of Snapwire, explains Snapwire's prior funding history and capitalization structure while discussing equity crowdfunding.

0:00 / 0:04exact quote · 4.9s
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“In Snapwire's world, we raised venture debt, so convertible notes. We have never done a price round.”

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More from Chad Newell

Assertion Supported
Newell: Title III rules require all deal communication directly on funding portals
“Legally. No, you're not allowed to. The idea that this is basically a tombstone ad and the spirit of title three is to let the cloud, excuse me, the crowd collectively decide that If Snapwire is a sound investment, all communications about the deal, the terms …”
Chad Newell Nov 20, 2016 ▶ 17:28 EP 484: $7M Raised with StartEngine CEO and CrowdFunding SnapWire CEO
Assertion Supported
Newell: Title III crowdfunders do not require individual acquisition signatures
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Chad Newell Nov 20, 2016 ▶ 26:40 EP 484: $7M Raised with StartEngine CEO and CrowdFunding SnapWire CEO
Disclosure
Newell: Snapwire secured $3M in investor reservations before Title III pivot
“Start engine and snap where I had worked together to run a test the waters campaign to Weeks before we actually switched gears and went to title three three million dollars of reservations from potential investors when we thought we were going to do a title fo…”
Chad Newell Nov 20, 2016 ▶ 5:47 EP 484: $7M Raised with StartEngine CEO and CrowdFunding SnapWire CEO
Disclosure
Newell: Snapwire raised $2.1M in traditional venture debt
“As you'll remember, I did this log in raising two and two and 2.1 million dollars in traditional venture debt.”
Chad Newell Nov 20, 2016 ▶ 8:11 EP 484: $7M Raised with StartEngine CEO and CrowdFunding SnapWire CEO
Assertion Not checkable as stated
Newell: Snapwire has 300,000 photographers across 180 countries
“Well, you know, on Snapwire, we have a community of 300,000 photographers in a 180 countries who are all on the platform willing to, wanting to sell their images to image buyers.”
Chad Newell Nov 20, 2016 ▶ 9:10 EP 484: $7M Raised with StartEngine CEO and CrowdFunding SnapWire CEO
Assertion Not checkable as stated
Newell: Snapwire revenue is split 50/50 between SaaS and pay-as-you-go
“Right now it's 50, 50 split, but the returns per image are a little bit different than either camp.”
Chad Newell Nov 20, 2016 ▶ 10:08 EP 484: $7M Raised with StartEngine CEO and CrowdFunding SnapWire CEO
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