I have some very good news to share with you about substantially improving the terms of your investment into Veditz.
As you’ve seen from our progress updates the company is making terrific progress. We are especially pleased with securing an agreement with Gallaudet University, the world’s irrefutable authority on all things related to American Sign Language. In the process of moving the company forward we were approached by an Accredited Investor who came to us via Wefunder about investing directly into our Convertible Note. As you may have seen in our Wefunder documents, the company has also been raising funds via a Convertible Note at different terms for Accredited Investors who make a more substantial investment than what a typical Wefunder investor might make.
We thought about it and came to the decision that if we allowed this person to do that we should allow all Wefunder investors to do so as well. When we chose Wefunder and crowd investing we did so due to our deep belief in enabling small investors to get the same access to start-ups as do professional investors.
Therefore we are pleased to announce we are changing the terms of the SAFE you invested in, to our Convertible Note. Here’s why you will be pleased.
The SAFE was at a valuation of $4M, with no discount and no interest.
The Convertible Note is at at valuation of $3.5M cap with a 20% discount, which means the max valuation you convert at is $2.8M, and it earns interest at 5% annually.
So now even those of you who have invested as little as $100 will get the exact same terms as we have provided professional investors.
Thanks for all you have done to support the company on our quest to help 70,000,000 deaf people get improved access to quality education, anytime, anywhere.
Wefunder supports three different federal laws that allow startups to raise money legally. To comply with the law, Wefunder Advisors LLC and Wefunder Portal LLC (both owned by Wefunder Inc) also list startups depending on the regulation used.
Legal May 16th 2016
Wefunder Portal LLC
for 316 startups
Wefunder Advisors LLC
for 105 startups
for 3 startups
Curious how well the companies have done? Or how many raised follow-on financing?
Some fine print: 1) These numbers include startups currently live on Wefunder if they pass their minimum target. 2) Some startups use two different laws at the same time (i.e., Regulation D and Regulation Crowdfunding).
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