I received a promo email from WeFunder this morning. To mark the occasion of the change in the law, this was the messaging:
To celebrate, we are featuring great 25 startups from Y Combinator, Techstars, and MIT!
Clicking through to the "Raise Funding" page, which includes the pricing, this message appears at the bottom:
We offer a 100% discount to select high-tech startups that recieved funding from Y Combinator, SV Angel, or Andreessen Horowitz.
Not to dump on the accomplishments of the featured startups and those who have received funding from SV Angel or Andreessen Horowitz, but the message to everyone else seems to be: It doesn't matter how great your team is or how well you execute, if you are not part of the incubator/angel A-list, don't expect any breaks from us when it comes to promotions or pricing.
They needed a seed pool of already vetted companies. This is extremely rational on their part, and probably helps their early funders make reasonable decisions.
The biggest concern I think one should have about this is that dumb companies will be paired up with dumb money at a much greater rate than great companies being paired up with lucky (or smart) money, making the whole concept look bad.
To celebrate, we are featuring great 25 startups from Y Combinator, Techstars, and MIT!
Clicking through to the "Raise Funding" page, which includes the pricing, this message appears at the bottom:
We offer a 100% discount to select high-tech startups that recieved funding from Y Combinator, SV Angel, or Andreessen Horowitz.
Not to dump on the accomplishments of the featured startups and those who have received funding from SV Angel or Andreessen Horowitz, but the message to everyone else seems to be: It doesn't matter how great your team is or how well you execute, if you are not part of the incubator/angel A-list, don't expect any breaks from us when it comes to promotions or pricing.