Put a couple hundred dollars in a company that went public after 3 years. My original 667 shares that I received only turned to a few warrants after ipo. Warrants weren't even worth the reinvestment to turn into shares.
I have not done crowdfunding before and signed up to launch a campaign with startengine. The platform is very easy to use and they have internal legal team that review the filings with the SEC. It's all done very proper and buttoned up, they need a CPA review, bank statements, proof of company good standing and more. I looked at the other available platforms such as WeFunder and SeedInvest and found StartEngine to be the most friendly support staff and easiest to use platform. Will update the review after my raise ends.
I started investing in start-ups with similar platforms a few years ago. Start Engine is very simple. It provides a simple and quick way to get more details in the startups being promoted and with a couple clicks can invest along with others in some of the greatest innovations of our time. From movie production to artificial intelligence system and more. There is minimum cost "auto" investing which attempts to simplify and diversify your investing. There are also high dollar investing opportunities which are very exciting to participate in. Another key advantage of Start Engine is the weight that Shark Tanks Kevin O'Leary brings to the table. As is the case with all startup investing, you deposit funds and can get those pre-invested funds back. But once you agree to commit to an investment, there is typically no refund. However, Start Engine, like others, emphasize the risks of this sort of investing. It's certainly not for everyone, but if you want to get in at the ground floor by investing in some intriguing products etc., Start Engine is certainly a great platform to do it on. The biggest challenge is deciding whether to take the risk, or stash my money under my pillow and play it safe. I've missed out plenty on the stock market etc., so I've decided to commit some amount of my incoming cash to start-up investing with a plan to research these companies and their management as best as possible before I click the button.
Of the 41 positive reviews on here of StartEngine, 38 were posted in August 2020. Of those posts, 65% were posted on August 14th. Do you really think the StartEngine fan club got together and decided to boost the reviews on a single day? Really! They are fake reviews.
I invested in two things on their website their stock and Phormed. I was trying to figure out a way to get my money back. I initially tried to get my money out and was told by support that I couldn't. I was just wanting to take the money out and put it in my checking account. I then tried to cancel my account since I was trying to do the above and unfortunately since it's in the stock market I can't access my funds. So I guess I will need to figure out what I want to invest in since I am unable to cash it out. So be warned that you are unable to access your funds once you invest. No live person to talk to but the support email does respond which is a good thing.
I finally got my money out, but it was no thanks to StartEngine. They use an intermediary to handle funds. I complained to them (phone and email) and they took care of getting my money distributed. I've closed my account with StartEngine.
I will add this... StartEngine is advertising HEAVILY. To me this is not a good sign. Also, their different startups advertise to me (retargeting ads). At this stage they should be relying on PR, not ads. This is a new and revolutionary product, or so they claim. They shouldn't have to spend so much on advertising. This feels very much like a direct marketing machine and not a true investment service.
I sent StartEngine $3k to start my account and have cash ready to invest. Despite having deposited money with them, when I tried to invest they (the online tool) asked for SEPARATE/ADDITIONAL funds for a $300 investment, 1/10 of what I had on deposit. After trying and trying I gave up and submitted a disbursement withdrawal.
THEY NEVER SENT MY MONEY.
The $3k disappeared from my StartEngine account and has not appeared in my bank account. If you call them on the phone they send you away. No voicemail.
If you send an email they don't respond.
Their online chat is a bot that just says they will submit a ticket. I've heard nothing.
Mr. Wonderful basically stole my money.
This is a fraud.
Being apart of a peoples owned movie production film company is exciting! It's a small cost per share and an affordable minimum requirement to start! Less than $40.00!
We are happy to hear you are excited about your investment! Thank you for using StartEngine!
Finally a way to invest in small upstarts without an enormous amount of money. I'm so excited for the new trading platform can't wait till more companies are trading
Crooks! Don't waste you're time with this scam. They pretend to be an investment company but make it impossible to get your money returned to you once it's in their control.
Hi there, I'm sorry to hear this didn't meet your expectations. StartEngine facilitates investment opportunities in start-up companies. Our refund policy depends on if you have invested in a Reg CF or a Reg A+ campaign, but refunds are available only until the funds are invested and shares have been issued in your name. At that time, no refund is possible or due as StartEngine no longer has your funds. As outlined as many places as we can throughout our investment campaigns, checkout flow, terms and conditions, and investor education materials these are not the same as investing in companies that are trading on public marketplaces. These investments are inherently longer term and not immediately liquidating, though we are passionate about liquidity and as such have launched our own ATS, StartEngine Secondary for companies to list on once their campaign is closed, if they choose to do so. We encourage all investors to read our educational materials, help articles, blog posts, and the offering documents and details for each campaign and contact our team at contact@startengine.com for any clarification questions prior to investing.
I am very pleased with the variety and quality of businesses seeking funding through startengine. Startengines website is easy to use and the notification keep me informed of opportunities to invest in new businesses. It's another avenue of investing that wasn't available to me in the past.
Overview
StartEngine has a rating of 2.7 stars from 182 reviews, indicating that most customers are generally dissatisfied with their purchases. Reviewers dissatisfied with StartEngine most frequently mention customer service, phone number and email address. StartEngine ranks 2nd among Crowd Funding sites.
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Hi Judy,
Startup investing is a long term venture and these investments are typically held for several years before an exit opportunity is available.
Since there is not currently an established market to trade private securities, in order to liquidate your shares and see a potential return, investors must wait for an exit event, such as the company being acquired or going through an IPO. Every startup will have a different trajectory, so there is no exact timetable for if/when an exit event may occur.