By Ryan Sim - Managing Director, We The People
In 2016, Jay, Nison, Joel and myself, launched the world’s first store dedicated to providing a platform for crowdfunded startups to sell their products. It started off as a conversation between ourselves where we wondered if there was already a physical store that sold purely crowdfunded products.
Having found success ourselves as creators by launching our own products on Kickstarter, we wanted our business to not only teach creators and potential creators to do the same, but to eventually scale them into international markets later. We could achieve this because of the resources, channels and connections that we’ve built worldwide.
Today, our We The People brand has a strong and growing presence within Singapore, Malaysia, South Korea and North America, inadvertently, we’ve become an accelerator.
Although we’ve grown from strength to strength, our journey has been challenging with many ups and downs, you know what they say calm seas never made a skilled sailor. We were self-funded, never having the luxury of a big marketing budget or paying ourselves anything more than basic.
Everyday was a struggle with 20 hour work days, fatigue, both mental and physical, and slow cash flow, the list goes on. If it weren’t for pure passion and grit, we wouldn’t be here today.
It has been humbling to have the opportunity to be where we currently are and our desire is to provide these same opportunities to those who may never have had a guiding light.
Today, we are gearing up for the next stage of our journey. Scaling this beautiful creation with tech and manpower.
In order for us to rapidly scale the business, we’ll need to raise a significant amount of money to do so. We’ve partnered up with the Initial License Offering Exchange in London to make this happen.
We’ve set aside 10% of our future revenues to be converted into 100,000 license units. Each license can be purchased at $30 and held for three year.
As a license holder you will receive royalties that will be paid to you every quarter.
Here’s the cool part about ILO’s.
You would have purchased the licenses because you believe in the concept and mission we are trying hard to achieve. Share about what we do on social media as consistently as you can and in turn, this will bring more brand recognition for the business, which would equate in higher revenues. It does’t just end there, if you know someone that could potentially benefit from working with us, you could link us up as well! This could be someone you know who has a brand that was crowdfunded or someone who is about to launch a product. We could be their turnkey solution.
After a year and a half, these licenses become tradable on the platform, allowing license holders to cash out their initial investment.
After three years, the license holder will have the option to convert the licenses into shares or sell the license back to us at the same price as when the license was purchased.
We’ve found this type of crowdfunding to be a great way for us to connect with our audience as it rewards both the license holder and issuer in a very direct manner.
We look forward to having you guys onboard our We The People ship!
More information about the ILO can be found here.
If you have any questions, drop us an email at email@example.com, or alternatively, find us on telegram.
(left to right: Ryan, Nison, Jay, Ayton, Vienoth, Joel, Derrick)