Liquor startup Amass is crowdfunding $5 million of its next round. Its founder reveals how he's turning fans into evangelistic investors.
Summary List Placement Most startup founders dream of landing a big-name investor with lots of cash and connections to share. Mark Lynn, the CEO and founder of spirit-maker Amass, has helped raise millions from well-heeled investors for both Amass and Winc, a wine subscription service he previously cofounded that has raised about $63 million, according to Pitchbook. But as he plans to raise $5 million through venture capital in Amass' next funding round, Lynn is also looking to raise another $5 million through crowdfunding by capturing the attention of small-time backers, including those willing to invest as little as $500. Through a listing on website SeedInvest, potential investors can put down money toward a piece of Amass. (At publication time, Amass has raised just over $3 million from small-time investors so far.) Once the total reaches $5 million, investors will actually receive their stake in the company. Going after anyone with a few hundred dollars to spare may seem odd for a startup that wants to make it big, but Lynn said there are advantages.
Liquor startup Amass is crowdfunding $5 million of its next round. Its founder reveals how he's turning fans into evangelistic investors.
Summary List Placement Most startup founders dream of landing a big-name investor with lots of cash and connections to share. Mark Lynn, the CEO and founder of spirit-maker Amass, has helped raise millions from well-heeled investors for both Amass and Winc, a wine subscription service he previously cofounded that has raised about $63 million, according to Pitchbook. But as he plans to raise $5 million through venture capital in Amass' next funding round, Lynn is also looking to raise another $5 million through crowdfunding by capturing the attention of small-time backers, including those willing to invest as little as $500. Through a listing on website SeedInvest, potential investors can put down money toward a piece of Amass. (At publication time, Amass has raised just over $3 million from small-time investors so far.) Once the total reaches $5 million, investors will actually receive their stake in the company. Going after anyone with a few hundred dollars to spare may seem odd for a startup that wants to make it big, but Lynn said there are advantages.