Black-Owned Tech Startups Offer Stock Options for Crowdfunding

Equity crowdfunding offers rewards (and risk) to minority-owned businesses and investors

startups
(Image: iStock.com/Poulssen)

Minority-owned tech startups are turning to a new model to raise capital: equity crowdfunding, which gives investors equity ownership in the company.

Most crowdfunding is “rewards-based.” Investors earn “perks” for their contribution to a startup. Crowdfunding sites such as Kickstarter and Indiegogo have made this type of crowdfunding a commonplace way for startups to raise capital.

Funding Dreams

A new venture, DreamFunded, pairs those looking to invest in a company with founders seeking funds. It is a members-only crowdfunding platform. The DreamFunded team screens and vets all startups. Members, in turn, can select from the startups they wish to invest in, in many cases, for as little as $10.

Kevin Rivers, co-founder, and CEO of Bluurp, announced that his company will use DreamFunded to raise additional capital. Bluurp is a social media platform targeted to people of color that allow users to post messages across Facebook, Twitter, Tumblr, and LinkedIn, as well as share videos from YouTube, songs from Spotify, and photos across Instagram, Pinterest, and Flickr, according to its website.

“We’re actually going to be launching our equity crowdfunding round of $100,000 on VC firm DreamFunded.com as soon as Nov. 8. We have been approved by the SEC to offer our securities via a CrowdSAFE note to everyone. Both non-accredited and accredited investors,” says Rivers. Bluurp is seeking investments starting at $60 and up.

Risk and Rewards

Carolyn Brown, Black Enterprise’s senior editor, small business, shares that equity crowdfunding makes it easier for startups to appeal to a broader base of investors under new federal rules.

“Essentially, non-accredited investors or individuals with a net worth or annual income of less than $100,000 can put up cash in startups under the new rules, which make up Title III of the JOBS Act. They can invest $2,000 or 5% of their annual income or net worth, whichever is less. Companies can now raise up to $1 million across state lines without prior approval,” writes Brown.

Another advantage is that investors of color have the opportunity to build personal wealth if the company he or she invests in flourishes and eventually goes public.

The risk is obvious; 90% of startups fail. Zero return on investment is a likelihood. However, DreamFunded seeks to minimize financial risk by offering low-cost investments and rigorously vetting the startups promoted on its platform.

 

 
  • Georgia Keitt

    Very Interested.

    • Kevin Rivers

      Hi Georgia. Please email me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

      • Mimi

        Hello Kevin, I would like to invest and get mor info. Thank you.

  • Sherrie Williams

    I would love to invest

    • Reggie brock

      Please send me information regarding starup offers

      • Kevin Rivers

        Hi Reggie. I’m Kevin, CEO of Bluurp.com. Please email me at kevin@bluurp.com for more info.

        Kevin Rivers
        Bluurp, Inc.

    • Kevin Rivers

      Hi Sherrie. Please email me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

  • Aamina Salaam

    Very much interested

    • Kevin Rivers

      Hi Aamina. Please email me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

      • m brown

        Addtl info plz abt dreamfunded

  • Wendy

    I am interested

    • Kevin Rivers

      Hey Wendy! Awesome! Please email me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

  • Nadine Dawkins

    Interested

    • Kevin Rivers

      Hi Nadine. Please email me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

  • I am interested

    • Kevin Rivers

      Hi Beulah. Please me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

  • Edward Jackson

    I want to invest

    • Kevin Rivers

      Hi Edward. Please email me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

  • Terrance Jackson

    Sounds interesting.

    • Kevin Rivers

      Hi Terrance. Please email me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

  • Bruce R Rochester Sr

    I would like to know how I can get started

    • Kevin Rivers

      Hi Bruce. Please email me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

  • James L Washington

    How do I begin & costs

    • Kevin Rivers

      Hi James. Please email me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

  • Kymberly Morrison

    I’m interested

    • Kevin Rivers

      Hi Kymberly. Please shoot me an email at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

  • Isaac Black

    I would like to invest.

    • Kevin Rivers

      Hi Isaac. Please email me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

  • Ruby Bolton

    I am interested. Please send info.

    • Kevin Rivers

      Hi Ruby. Please email me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

  • Emma Sanders

    Very interested and about time!

    • Kevin Rivers

      Hi Emma. Please email me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

  • Mary Louise Mosley

    I’m interested. Who do you contact? Would be a great beginning for investing for kids. Great gift for Christmas. Very good idea. ☺

    • Kevin Rivers

      Hi Mary. Please email me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

  • Hi everyone. I’m Kevin Rivers, Co-Founder and CEO of Bluurp! Please email me at kevin@bluurp.com and I’ll personally answer your inquiries! ^_^

    Kevin Rivers
    CEO, Bluurp Inc.

  • Frank Avant

    Very interested .

    • Kevin Rivers

      Hey Frank! Please email me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

  • Frank Avant

    Very interested . Send info

  • Irene Lindsey

    Very interested. Please send info.

    • Kevin Rivers

      Hi Irene. Please email me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

  • Nigale Huskey

    I would invest

    • Kevin Rivers

      Hey Nigale! Thank you for your support. Please email me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

  • Greg Harris

    we are a new minority owned rideshare company in LA, California. I’m interested in crowdfunding to launch and beta test our system.
    thank you. G.H.

  • Kevin Rivers

    Hey everyone. Please go here to sign up and join our Waitlist to invest: https://www.dreamfunded.com/companies/bluurp

    Kevin Rivers
    CEO, Bluurp Inc.

  • Linda Crawford

    I am interested to know more about this venture. Please provide more info.

    • Kevin Rivers

      Hi Linda. Please email me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

  • Eric

    I’m interested, please send me the investing information to my email.

    Thanks

    • Kevin Rivers

      Hi Eric. Please email me at kevin@bluurp.com for more info.

      Kevin Rivers
      Bluurp, Inc.

  • Rickey

    I would like to part of this new venture..

  • Edwin Hopkins

    Hello and I’m interested but would like to know more.

  • Tara R McRae

    Hello Mr. Rivers
    Im Tara McRae, Im single mother of 41. Ive always wamted to learn the market and invest. This seams like a very nice opportunity to try and start a portfolio i can be proud of. Please help me. Sincerly Tara McRae president and CEO of my financial future.

  • Letasha race

    I’m very interested in learning more about the investing…can you send me info on where and what I can do to invest..

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