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Onevest, a New Yorkbased investment
crowdfunding Crowdfunding is the practice of funding a project or venture by raising money from a large number of people, typically via the internet. Crowdfunding is a form of crowdsourcing and Alternative Finance, alternative finance, to fund projects "withou ...
site for
startups A startup or start-up is a company or project undertaken by an Entrepreneurship, entrepreneur to seek, develop, and validate a scalable business model. While entrepreneurship includes all new businesses including self-employment and businesses tha ...
that was acquired by Business Rockstars in April 2018 (also known as: Rock The Post), allowed entrepreneurs to raise capital from accredited investors. In July 2014, startups launching on Onevest had collectively raised over $66 million. Additionally, Onevest provided a service for co-founder matchmaking via its sister site CoFoundersLab.com, where entrepreneurs were able to find their co-founder prior to launching their startup. CofoundersLab was one of the largest matchmaking services for entrepreneurs with over 80,000 entrepreneurs registered. One of the most success stories was Revolv, which was acquired by Google. Currently, the Canadian embedded wealth management company "OneVest" goes by this name.


History

Rock The Post was founded by
Alejandro Cremades Alejandro Cremades (born in Zurich in 1985) is a Spanish author and entrepreneur based in New York City. Born to Bernardo Cremades and Leticia Roman, Cremades attended primary school and high school at Colegio Retamar. At the age of 22, he move ...
and Tanya Prive. Their goal was to help entrepreneurs, including those without strong business connections, raise funds and gain exposure. The site was launched in November 2011. Initially the platform offered projects that could receive funding or in-kind contributions (e.g., time and/or materials), but switched to equity and debt-based funding only. Rock The Post received $857,000 in seed money from a group of angel investors in February 2012. On April 23, 2013, Rock The Post announced the addition of
Barbara Corcoran Barbara Ann Corcoran (born March 10, 1949) is an American businesswoman, investor, syndicated columnist, and television personality. She founded The Corcoran Group, a real estate brokerage in New York City, which she sold to NRT for $66 million ...
to its board of directors. Barbara is one of the "Sharks" starring in the ABC TV show ''Shark Tank,'' where she has personally invested in over 20 startups. Corcoran is a contributor to the NBC's ''Today Show'', and hosted "The Millionaire Broker with Barbara Corcoran" on CNBC.


Onevest

On July 16, 2014, Rock The Post announced the acquisition of CoFoundersLab, an online and in person matchmaking network. In August 2015, Onevest completed self–crowdfunding on its own platform after raising a Series A round of financing of over $2M. On July 27, 2016, Onevest announced it was acquiring its major direct competitor, FounderDating, in order to merge that platform with its very own CoFoundersLab. According to the announcement the result of the acquisition would increase the number of registered entrepreneurs to over 300,000 on the platform and now providing services to entrepreneurs that would range from idea to funding and beyond.


Involvement with the JOBS Act

On June 4, 2013, RockThePost's CEO, Alejandro Cremades, was invited to attend the Champions of Change ceremony hosted by the White House. The Champions of Change program shares the stories of everyday people that have strengthened their communities through hard work and innovation. The event honored entrepreneurs who exemplify the promise of crowdfunding to fuel economic growth and community empowerment through innovative crowdfunding projects across the country. In addition to being involved with the
JOBS Act The Jumpstart Our Business Startups Act, or JOBS Act, is a law intended to encourage funding of small businesses in the United States by easing many of the country's securities regulations. It passed with bipartisan support, and was signed int ...
since the beginning, on June 6, 2013, the company's CEO, Alejandro Cremades, testified at the U.S. House Committee on Small Business to voice RockThePost's stance on the present challenges the company was facing as a changing industry and the future of equity crowdfunding.


Operations

The platform showcases startups and it is required that those posting projects have legitimate documentation in place prior to going live. The site accepts startups in the tech, healthcare, consumer, and hardware verticals. It focuses on "entrepreneurs, not dreamers", in trying to keep its platform legitimate and help eliminate some of the barriers that typically stand between startups and growth capital. The site charges monthly subscription fees for launching venture pages. However, the registration on the platform is completely free of charge.


News coverage

''
Time Time is the continuous progression of existence that occurs in an apparently irreversible process, irreversible succession from the past, through the present, and into the future. It is a component quantity of various measurements used to sequ ...
'' called it one of the best crowdfunding sites, in 2012. It was cited by
Business Insider ''Business Insider'' (stylized in all caps: BUSINESS INSIDER; known from 2021 to 2023 as INSIDER) is a New York City–based multinational financial and business news website founded in 2007. Since 2015, a majority stake in ''Business Inside ...
as one of the top 10 startups to watch in NYC in 2012. The ''Wall Street Journal'' It has also been referred to by Market Watch,
Alejandro Cremades Alejandro Cremades (born in Zurich in 1985) is a Spanish author and entrepreneur based in New York City. Born to Bernardo Cremades and Leticia Roman, Cremades attended primary school and high school at Colegio Retamar. At the age of 22, he move ...
was also cited in an article in ''Fast Company'' stating that money raised through crowdfunding is going towards businesses that are built to last. As the article states, for Rock The Post crowdfunding is not about funding your friends artisanal wrapping paper, it is about saving the U.S. economy. Business Insider stated that one of Rock The Post's biggest differentiators is its tremendous customer service. From the reporter's point of view, it was surprising how project owners could call to speak with Rock The Post. Business Insider said that the site is yet another promising tool to help American entrepreneurs succeed and get the national economy back on track. On an article published on June 18, 2012,
Mashable Mashable is a Online newspaper, news website, digital media platform and entertainment company founded by Pete Cashmore in 2005. History Mashable was founded by Pete Cashmore while living in Aberdeen, Scotland, in July 2004. Early iterations o ...
mentioned how the ideal users for Rock The Post are small businesses and entrepreneurs looking to jump-start their startup by gaining the support and feedback of like-minded individuals.
TechCrunch TechCrunch is an American global online newspaper focusing on topics regarding high tech, high-tech and Startup company, startup companies. It was founded in June 2005 by Archimedes Ventures, led by partners Michael Arrington and Keith Teare. I ...
published an article discussing how crowdfunding platform Rock The Post limits its projects to those created by legitimate entrepreneurs and SMBs to reduce risk for backers by providing tons of hands-on help during the funding process to help project creators increase their chances of being funded. The same fact that was pointed out by TechCrunch was also cited on an article
The Washington Post ''The Washington Post'', locally known as ''The'' ''Post'' and, informally, ''WaPo'' or ''WP'', is an American daily newspaper published in Washington, D.C., the national capital. It is the most widely circulated newspaper in the Washington m ...
published mentioning the criticism other crowdfunding platforms had received for funded projects which never came to fruition, mentioning how Rock The Post's team vets the businesses first to select the ones that seem likely to succeed, looking specifically for a well-thought out and developed idea, a sustainable structure and a concrete plan. In an interview with Inc. (magazine) on May 7, 2013, Cremades stated that RockThePost "helps entrepreneurs avoid the distractions of having to do the roadshow of closing the first round of financing, which normally takes on average eight months in addition to being able to do so from home or the office in 90 days, helping to concentrate on what is important, which is building the team and executing well on the vision." In an interview with the
Boston Herald The ''Boston Herald'' is an American conservative daily newspaper whose primary market is Boston, Massachusetts, and its surrounding area. It was founded in 1846 and is one of the oldest daily newspapers in the United States. It has been awarde ...
Tanya Prive stated that the work that RockThePost is doing "democratizes the process of funding for startups and that the power of fundraising was going to be substantially increased." Moreover, RockThePost was featured in
Inc. (magazine) ''Inc.'' is an American business media company founded in 1979 and based in New York City. ''Inc.'' publishes several print magazine issues per year, and is anchored by journalistic content online and on social media, focused on entrepreneurship a ...
as one of the leading platforms for online fundraising for startups. On June 24, 2013, Cremades stated in an interview to AlleyWatch that it was critical to embrace entrepreneurship given the fact that startup companies create over 3 million jobs every year in the US while large corporations are losing 1 million jobs. The site was cited by
Inc. Magazine ''Inc.'' is an American business media company founded in 1979 and based in New York City. ''Inc.'' publishes several print magazine issues per year, and is anchored by journalistic content online and on social media, focused on entrepreneurship a ...
in 2014 as one of the "50 best websites for entrepreneurs".


See also

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Alejandro Cremades Alejandro Cremades (born in Zurich in 1985) is a Spanish author and entrepreneur based in New York City. Born to Bernardo Cremades and Leticia Roman, Cremades attended primary school and high school at Colegio Retamar. At the age of 22, he move ...
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Comparison of crowd funding services Crowdfunding is the practice of funding a project or venture by raising money from a large number of people, typically via the internet. Crowdfunding is a form of crowdsourcing and alternative finance, to fund projects "without standard financial ...
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Crowdfunding Crowdfunding is the practice of funding a project or venture by raising money from a large number of people, typically via the internet. Crowdfunding is a form of crowdsourcing and Alternative Finance, alternative finance, to fund projects "withou ...
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Crowdsourcing Crowdsourcing involves a large group of dispersed participants contributing or producing goods or services—including ideas, votes, micro-tasks, and finances—for payment or as volunteers. Contemporary crowdsourcing often involves digit ...
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Jumpstart Our Business Startups Act The Jumpstart Our Business Startups Act, or JOBS Act, is a law intended to encourage funding of small businesses in the United States by easing many of the country's securities regulations. It passed with bipartisan support, and was signed int ...


References


External links


Official website, archived
{{Crowdfunding platforms Companies based in New York City Defunct crowdfunding platforms of the United States