Cable Technology Feature Article
PeoplesVC Plans to Launch Online Crowdfunding TV Gambit
By Tara Seals, TMCnet Contributor
Kickstarter may be the poster-child company for crowdfunding, but some are taking the concept and elongating it with specialized business models. PeoplesVC for instance is gearing up to launch its own TV channel, PeoplesVC-TV, an integrated multimedia platform that it plans to use for “capital formation” for startups and existing small businesses, to allow them to expand and hire staff.
The plan is to create live, theme-based TV shows, each with its own integrated Web platform, and each featuring as its own telethon-like fundraising shows. Shows like “Fund-a-Farmer” or “Spark-a-Senior” are examples of the types of programming the company is developing. PeoplesVC said that it’s working on a variety of shows to air on its network, and expects to launch its TV channel around Sept. 21.
"Our primary mission here at PeoplesVC is to create jobs in America. We are passionate about it," said Akhil Garland, CEO of PeoplesVC. “And we feel our revolutionary business model will do just that. We want to create jobs that will help jumpstart small business in American communities from coast-to-coast.”
Securities-based crowdfunding is not allowed in the United States yet, so PeoplesVC is only offering donation-based crowdfunding for now. However, that is set to change when the Jumpstart Our Business Startups (JOBS) Act, which was signed into law in April 2012, goes into effect. That law requires the SEC (News - Alert) to update securities laws to allow two significant changes: one, to enable general advertising for private investment offerings; and two, to allow unaccredited investors to participate in online equity crowdfunding.
The SEC is bogged down in the twists and turns of implementing the legislation, but it’s widely anticipated that soon, the average consumer can participate in capital markets, opening up the floodgates and turning the existing equity funding model on its head.
Edited by Alisen Downey