Chad Newell, CEO of Snapwire, explains to host Nathan Latka why the platform's large creator base represents its primary source of equity crowdfunding investors.
0:00 / 0:07exact quote · 7.7s
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“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.”
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More from Chad Newell
AssertionSupported
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 NewellNov 20, 2016▶ 17:28EP 484: $7M Raised with StartEngine CEO and CrowdFunding SnapWire CEO
AssertionSupported
Newell: Title III crowdfunders do not require individual acquisition signatures
“You know, these are common stockholders, and you know, when we do sell the rights of the acquirer, if we do, if we went down that path would just fall under the terms of the deal, and also the terms of the current offering that we're offering. So, in other wor…”
Chad NewellNov 20, 2016▶ 26:40EP 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 NewellNov 20, 2016▶ 5:47EP 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 NewellNov 20, 2016▶ 8:11EP 484: $7M Raised with StartEngine CEO and CrowdFunding SnapWire CEO
AssertionNot 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 NewellNov 20, 2016▶ 10:08EP 484: $7M Raised with StartEngine CEO and CrowdFunding SnapWire CEO
AssertionNot checkable as stated
Newell: Snapwire has licensed 9,000 photos from 7,000 photographers
“There have been 9000 photos moved through the system through about 7000 photographers.”
Chad NewellNov 20, 2016▶ 10:21EP 484: $7M Raised with StartEngine CEO and CrowdFunding SnapWire CEO
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