Social startups Diem and Spill are inviting users to invest in their platforms through WeFunder, allowing everyday individuals to become part of the companies they engage with. Diem, a social search platform, and Spill, a visual conversation app, aim to provide user ownership in their products. By lowering investment thresholds to $100 and $250, respectively, they open avenues for broader participation. WeFunder’s platform facilitates this model by enabling smaller investments and providing a structured method for community funding, allowing startups to engage with their user-base more meaningfully.
"We've always wanted the community to be able to own a piece of the product," Diem CEO Emma Bates told Business Insider.
"What we have is a tool that allows you to let a larger number of smaller checks into the deal," said Read Ezell, director of fundraising at WeFunder.
"It's not a signal that you can't raise money, it's a signal that you have another way to raise money," Ezell said.
Community investors on WeFunder are represented by a single lead investor and receive a single line on a startup's cap table.
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