@marcaime Thanks! We're working on just that, helping startups get that early traction. Helping companies get the data (qualitative or quantitative) they need to get to product-market fit.
It’s not about us.. let me introduce @MohamadShaaban and @FrontierOdyssey of SHOPnCHEF. They create custom meal plans based on your entire family’s dietary needs and restrictions. They even deliver the groceries if you’re out in the San Jose area! http://www.rocketclub.co/shopnch...
@dam13n I sure hope so too. It will work out with your support!
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@rocketclubco and @chenny408 Sorry I am late to the party today, stuck in meetings, but Congratulations! Great Hunt today and you know I am a huge fan and cannot wait to start earning shares in these very cool companies. Great Job!
Could you explain what happens to my 100- 500 shares when the startup starts taking VC money, I am sure my shares will liquidate, and will be essentially worthless (if I even have any left). Not sure as a early backer if this is how I would have liked to be treated, and few bad reviews could really hurt your product. Overall cool concept but really confusing.
@koridhandy I'm glad you asked. RocketClub has the rights to decide when to liquidate the shares for all its members. Having said that, the current idea is to hold onto the shares like any instituional investor would (until an exit in the form of public offering or acquisition). Liquidating anywhere in between would break the idea of keeping long-term goals aligned. Do you think that's accurate @chenny408?
@koridhandy the number of shares you own will stay the same regardless of any funding event, however the value per share can increase. We are obligated to pay out the users on any cash acquisition event, hence we cannot sell before then. Let me know if it makes sense.
This reminds me a bit of @quire (formerly alphaworks) with the very very important distinction that you're trading services rather than money and don't have to be an accredited investor. But I'm also a little unclear on the legal/tax implications - I don't understand how you could avoid a huge tax penalty if/when you finally exercise your shares.
@gillianim Our members actually earn stock appreciate rights (SARs), which don't have any tax liabilities. When RocketClub exercises the warrants granted by the startup, we do pay taxes. Its just that members receive a check in the mail after those fees. @chenny408 is the master here.. will let him confirm..
Rockets!!!
I thought about similar products in the past and I'm so happy that you create it!
The info/about is too complicated and some of my friends didn't understand what is really mean, but with the right fixes, you absolutely gonna rock!
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