Summary
StartEngine, co-founded by Howard Marks, is a pioneering equity crowdfunding platform that empowers everyday people to invest in startups. Marks, with his extensive background in the gaming industry and as a recognized technology leader in Los Angeles, leveraged his experience to create StartEngine. The platform has facilitated over 265 companies in raising close to $100M from a community of over 190,000 users. StartEngine's inception was influenced by Marks' own experiences with investing and recognizing the challenges in raising capital, especially for women and minority founders.

Unique Aspect
StartEngine differentiates itself by allowing companies to offer equity, debt, or other securities instead of just products or perks, broadening the scope of crowdfunding.

Approach to kick off
The idea originated from Marks’ experiences in running an accelerator and noticing the difficulties startups faced in acquiring capital. The pivot to an equity crowdfunding model was influenced by the JOBS Act, enabling a wider range of companies to seek crowdfunding.

Scoop

Business Model Viability
The business model is robust, tapping into a growing market for crowdfunding investments and offering a unique proposition compared to traditional funding avenues.

Future Projections
Plans to become a registered broker-dealer and launch StartEngine Secondary for trading securities, indicating a potential for significant growth and market expansion.

Startup Stats

📊 ARR: $4,800,000

📈 MRR: $400,000

🚀 Startup Costs: $0

👥 Team Size: 22

🌍 Market: Broad, encompassing various business sectors seeking equity crowdfunding

👨‍💻 Users: Over 190,000 users, with more than 265 companies funded

💰 Funding: Self-funded initially, later raised funds through equity crowdfunding

👨‍💼 Founders: Howard Marks