As we recently launched a crowdfunding campaign through StartEngine, a leading funding portal for Reg A and Reg CF fundraising, I’ve been asked why we chose to launch a crowdfunding raise - so I thought I’d share my thoughts and rationale.
I’m a big believer in the power of the internet to democratize industries and reduce barriers to entry, resulting in more competition, better products, and lower prices.
Whether it’s buying and selling goods on eBay and Amazon, finding or publishing information and content with Google, Wikipedia, or YouTube, or matching buyers and sellers of services like on Uber, Airbnb, and uShip, each of these platforms is a level playing field where anyone can compete and the best product or service at the best price wins.
Signing of the JOBS Act at the White House Rose Garden, 2012
Will the marketing for our funding campaign also gain us customers?
Getting a funding campaign out there entails significant marketing costs. If your product is not broadly available to buy, rent, or use by general consumers, the marketing costs you incur will only generate investment returns and not future customers. Because anyone can pilot our HEXA aircraft (not just licensed pilots), as we’re marketing our crowdfunding campaign we’re also marketing our product for future sales. We’re essentially creating “super fan” customers who have an interest in seeing us succeed.