Tech Developer Taking Advantage of Crowdfunding Law
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowAn Indianapolis-based technology company says recently-relaxed federal regulations on crowdfunding have already allowed it to raise tens of thousands of dollars. LiveLink LLC, which develops marketing and sales apps, is working with Localstake in Indianapolis to try to raise $500,000. During a March interview on Inside INdiana Business Television, Localstake Co-Founder Kevin Hitchen discussed the law's potential benefits for small businesses.
June 29, 2014
News Release
Indianapolis, Ind. – A major rule change last September allows companies like LiveLink to publicly solicit and market for private investments. The SEC's change to Rule 506 allows “accredited” investors with a net worth of more than $1 million, or who earn at least $200,000 a year, to participate in equity crowdfunding sites like Localstake. Crowdfunding is the fundraising technique of soliciting small amounts from many individuals over the Internet. Localstake is an investment crowdfunding platform based in Indianapolis for start-ups and small businesses to raise funding from investors in their community.
In 2013, LiveLink raised $1 million from local Indiana angel investors through traditional techniques. As a result, Mike Alley, chairman of Patriot Investments, joined the board along with Bob O'Brien from Cambridge Ventures. The capital allowed LiveLink to acquire another software development firm (Cogent Media Group), make several key hires and to build out a mobile solution that helps sales professionals find more opportunities. In 2014, LiveLink has turned to Localstake to raise an additional $500,000 to further prove its model and to make additional technology enhancements to its mobile solution. “We are $100K toward our $500K goal and expect the remaining amount to come in through the next several weeks,” said Jason Zickler, CEO and founder of LiveLink. “Localstake has the functionality for us to more effectively reach out via our online and offline networks to find investors that were previously very difficult to connect with.”
Localstake works with many types of companies ranging from breweries to software companies like LiveLink. “We are excited to work with LiveLink on their fundraising goal,” said Ryan Flynn, co-founder of Localstake. “Marketing technology is very strong in Indiana, and we are excited to help in this arena. We feel our platform can help LiveLink connect with a wide range of potential investors and do so while managing the demands of using the new securities exemptions that are now available.”
To review details on LiveLink's current fundraise and proceed with a potential investment, visit https://localstake.com/businesses/586/preview .
For more information on LiveLink, visit www.LiveLinkMobile.com . For more information on Localstake, visit www.Localstake.com .
About LiveLink, LLC:
LiveLink enables marketing to use mobile to get sales content and messaging directly into the hands of sales reps. Better yet, it's free to use forever for up to 10 users. At LiveLink we enhance communication between marketing teams and field sales teams using mobile technology.
Marketing and sales know they have to work together to be successful. Everyone knows it's a team effort, but in the day-to-day activities, differences in how individuals work slow down interaction and collaboration. We help address this problem by giving marketing the ability to get marketing tools and collateral directly into the hands of sales reps using a mobile app.
Not only do we help give on-the-go employees access to the latest marketing content, but we enable you to make it actionable. Every PDF, video and URL can be sent via email, shared via LinkedIn and shared via Twitter all with a few taps on a mobile phone. Marketing now has a direct communication channel with their on-the-go field sales reps.
Source: LiveLink LLC