Our Crowdfunding Network Is Growing Part 62

This week we pushed our generation next code to the site.  This corrects most of the issues we had during our first crowdfunding raise.  All of the AML and back-end items for investors are automated now, which should allow us to process several raises at the same time.  Doing this manually would have been a disaster.  

We started running a new marketing campaign to get our list of 5000+ targets to register for our site.  We'll continue doing this several more times and will eventually purge any names that are unresponsive.  We had about a 15% open rate on the last campaign which isn't really all that bad.  Once this list is cleaned up eliminating bounces, etc. we'll start investing in new campaigns heavily to attract new investors.  

Our Gloucester deal is waiting on a survey to determine floodplain feasibility.  Once this item is taken care of we will list the project as our second crowdfunded deal.  I expect for this to be roughly the week after next.  I'll be pretty occupied with a trip to NYC next week for a conference and our securities attorney is on vacation.  

We'll be adding new team members to our website soon.  Uday Tekumalla is our marketing lead and partner and Steven Biter of BP will be joining our team as well to assist with marketing.  A few other team members will be needed to prepare the business to scale.  I expect we'll be working through this in the coming few months as we design our processes to handle several deals at once.  

One of the things I am noticing in the industry is some of the leaders in the funding platform space are considering allowing investors to invest directly into the cap table of developers instead of playing go-between on raises.  This is encouraging and may signal a shift in how normal business gets done in the industry.  At some point it may make more sense for us to just allow others to play this role and to focus more on development.  Time will tell I guess.