Washington, D.C.-based CoFoundersLab, which organizes Meetups in Baltimore and around the country for potential startup cofounders to meet each other, claims to be the first startup to publicly solicit investment dollars when a set of new rules went into effect on Sept. 23.
According to a blog post, CoFoundersLab is using Rock the Post and AngelList to publicly solicit funds from accredited investors: people with “net worth of at least $1 million, excluding their primary residence, or annual income of more than $200,000 in each of the previous two years.”
In July the U.S. Securities and Exchange commission lifted an 80-year-old rule preventing a variety of groups, startups among them, from advertising that they’re raising capital. The rule was included in the Jumpstart Our Business Startups Act, approved by Congress in April.
CoFoundersLab was the winner of the inaugural Pitch Across Maryland competition, which concluded at the Maryland Entrepreneur Expo in November 2012.-30-