We’re excited to announce a new partner, Fundable.com, that is specifically designed to help startup companies like ours crowdfund their ideas. To showcase our new partnership, we’d like to introduce you to Purge, a finalist from Startup Weekend in Columbus, Ohio.
Purge was an idea pitched by CEO David Geiger to over 150 attendees at the Startup Weekend in Columbus back in February. The concept of Purge is simple – to allow anyone with an iPhone to sell anything by just snapping a picture and posting it everywhere online for sale.
Purge removes the friction of having to take a picture, upload it to your computer, login to Craigslist, Facebook, Twitter, Backpage and dozens of other sites you’d typically use to sell your item. Repeating the process over and over is a nightmare, so David and his team set out to fix the problem by creating one solution to do it all right from your phone.
With Purge users can snap a picture of the item they want to sell, assign a price and a short description, and then syndicate that listing to all of the platforms they’d like to post to – in one shot. You can now list an item for sale in a couple minutes instead of a couple hours.
Like most Startup Weekend companies, Purge only needed a small amount of capital to get the product into a more functional MVP. They settled on $25,000 as a healthy goal that would help them build out the fully featured system that could connect to multiple classified ad networks and build some of the back end infrastructure the site would require.
Crowdfunding can work for any raise amount, but it’s particularly useful to Startup Weekend companies because it gives them immediate access to small bites sizes – starting as low as $1000 – that angel investors and other capital sources typically don’t touch.
Purge set a goal of 60 days to complete its fundraise. If Purge exceeds its $25,000 goal within 60 days, all backers will have their credit cards charged and the funds will be immediately wired into the company’s bank account. No haggling on terms, no complicated legal expenses, and no time wasted.
Help a Startup Out
We’re excited to host our first Startup Weekend crowdfund for Purge. We hope that the Startup Weekend alumni, which now is over 50,000 members worldwide, will support Purge as backers to help launch them. You can support Purge for as little as $1.
We also hope that you’ll take advantage of the Fundable crowdfunding platform for your own startup. Fundable is free to join and use, and you’ll only be charged a 5% fee of the total fundraise if you are successful.
There are thousands of Startup Weekend companies that now have the power to take fundraising into their own hands. Crowdfunding was intended for exactly the types of companies we create.
If you’ve got a great idea, it’s probably time to consider putting your idea on Fundable. In the meantime, consider supporting our first Startup Weekend company, Purge.