The Australian Small Scale Offerings Board (ASSOB) is the world’s largest equity crowdfunding platform. I structured this interview as a story, and Paul and I walked through the crowdfunding lifecycle on ASSOB from cradle to grave. Exploring the perspectives of both the issuer and the investor. This was my first time interviewing via Google + so please forgive my redundancies and follies. Thankfully, Paul’s substantive responses more than made up for them.
The Australian Small Scale Offerings Board (ASSOB) is an equity crowdfunding platform that has successfully served both accredited and non-accredited investors since 2005, raising $130,409,669 since inception. 132 companies funded to date; 83% of which are still in operation; and not a single case of fraud. The absence of fraud is not by chance – it’s by design. A deeply qualified and experienced team at ASSOB has architected a system that shepherds businesses through the crowdfunding journey, compliantly and knowledgeably from cradle to grave.
It’s all weaved into the process. (i) Discovery: What are the implications of raising equity? Is ASSOB the right platform for my business? (ii) Offering Preparation: Cap tables, valuation, dilution analysis, and where do I even begin with the memorandum? (iii) Marketing: Most effective way to market my deal? How do I ensure my materials are fully compliant? (iv) Transaction: Shareholder agreements? Flow of funds? (v) Post-Investment: How often should I communicate with my investors? How about raising a follow-on round?
This is my own interpretation, and far from fully-encompassing, but it mirrors the general steps a business will take when using ASSOB. And with each step, they are surrounded by online, and offline, resources and assistance that speak to these types of questions. It’s an approach that couples carefully designed high-touch support with online efficiencies to achieve a crowdfunding model that works. To the tune of $130 million. And with that I’ll suspend my commentary, I suspect you’ll find my notes more useful : )