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{{Infobox dot-com company |
{{Infobox dot-com company |
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| name = Symbid |
| name = Symbid Corp. |
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| logo = [[File:Symbid |
| logo = [[File:Symbid logo.png|220px|Symbid's logo]] |
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| company_type = [[Public company|Public]] |
| company_type = [[Public company|Public]] |
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| traded_as = {{OTCQB|SBID}} |
| traded_as = {{OTCQB|SBID}} |
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| foundation = {{Start date and age|2011| |
| foundation = {{Start date and age|2011|06|01|df=no|p=yes|br=yes}} |
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| location = [[Rotterdam]], [[Netherlands]] |
| location = [[Rotterdam]], [[Netherlands]] |
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| area_served = [[Eurozone]] (2011–present) |
| area_served = [[Eurozone]] (2011–present) |
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| founder = {{Unbulleted list | Korstiaan Zandvliet | Robin Slakhorst | Maarten van der Sanden}} |
| founder = {{Unbulleted list | Korstiaan Zandvliet | Robin Slakhorst | Maarten van der Sanden}} |
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| key_people = Korstiaan Zandvliet<br /><small>([[CEO]])</small><br />Robin Slakhorst<br /><small>([[Chief commercial officer|CCO]])</small><br />Maarten van der Sanden<br /><small>([[Chief operating officer|COO]])</small> |
| key_people = Korstiaan Zandvliet<br /><small>([[CEO]])</small><br />Robin Slakhorst<br /><small>([[Chief commercial officer|CCO]])</small><br />Maarten van der Sanden<br /><small>([[Chief operating officer|COO]])</small><br />Philip Cooke<br /><small>([[Chief financial officer|CFO]])</small> |
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| industry = [[Crowdfunding]] |
| industry = [[Crowdfunding]] |
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| subsid = Equidam<br />Gambitious<br />Krediet Paspoort |
| subsid = Equidam<br />Gambitious<br />Krediet Paspoort |
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| url = {{URL|symbid.com/}} |
| url = {{URL|symbid.com/}} |
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| website_type = |
| website_type = Equity [[crowdfunding]] platform |
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| num_users = |
| num_users = 25,000 (active, July 2014) |
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| language = [[Multilingualism|Multilingual]] (4) |
| language = [[Multilingualism|Multilingual]] (4) |
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| current_status = Active |
| current_status = Active |
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| screenshot = [[File:Symbid |
| screenshot = [[File:Symbid homepage.jpg|220px]] |
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| caption = |
| caption = Symbid's homepage |
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}} |
}} |
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'''Symbid''' |
'''Symbid''' is an [[equity crowdfunding]] platform headquartered in [[Rotterdam]], [[Netherlands]]. Symbid was founded officially in April 2011 by Dutch entrepreneurs Robin Slakhorst and Korstiaan Zandvliet. |
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Following a website relaunch in March 2015, Symbid now facilitates several types of corporate financing, including bank loans, [[venture capital]], [[angel investing]], [[Factoring (finance)|factoring]], [[leasing]], [[equity crowdfunding]] and [[peer-to-peer lending]]. Symbid operates under the full jurisdiction of the [[Netherlands Authority for the Financial Markets]] and [[De Nederlandsche Bank]]. |
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[http://www.symbidcorp.com Symbid Corp.], the parent company of Symbid, maintains ownership interests in several affiliated companies. As of December 6, 2013 [http://www.symbidcorp.com Symbid Corp.] is a [[publicly traded company]] and is listed on [[OTC Markets Group|OTC Markets]] in the [[United States]] under the ticker symbol [http://www.otcmarkets.com/stock/SBID/quote 'SBID']. Symbid is a [[wholly-owned subsidiary]] of Symbid Corp. |
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== History == |
== History == |
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===Early years=== |
===Early years=== |
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In early 2007, Symbid's would-be founders Robin Slakhorst and Korstiaan Zandvliet |
In early 2007, while studying an MSc in Entrepreneurship & New Business Venturing at [[Rotterdam School of Management]], Symbid's would-be founders Robin Slakhorst and Korstiaan Zandvliet became aware that the vast majority of their fellow students were either unable or willing to pursue an entrepreneurial career due to the difficulties of receiving investment.<ref>Robin Slakhorst, co-founder of Symbid, discusses collaboration between old & new financial institutions at TEDxRSM. November 18, 2013. http://tedxtalks.ted.com/video/Collaborations-between-traditio;search%3Atag%3A%22tedxrsm%22</ref> As the [[Financial crisis of 2007–08|economic crisis]] took hold between 2007 and 2008, there was a large reduction in the general availability of business loans from banks and other traditional sources of funding.<ref>"CSI: Credit Crunch", The Economist. October 18, 2007. http://www.economist.com/node/9972489</ref> |
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Korstiaan Zandvlliet and Robin Slakhorst devoted the years between 2007 and 2010 to coordinating a viable fiscal-legal structure which would allow non-accredited investors to invest online in start-ups and small businesses. While a number of [[crowdfunding]] platforms began to appear online from 2006 onwards, including [[Pledgie]] (2006), [[Sellaband]] (2006), [[IndieGoGo]] (2008), [[FundRazr]] (2009), [[Kickstarter]] (2009), [[Fundly]] (2009), and [[GoFundMe]] (2010), these were associated with creative projects and rewards or donation-based crowdfunding. Very few countries, the Netherlands included, had introduced formal equity crowdfunding legislation at this time.<ref>"What the U.S. Can Learn From the Netherlands About Equity Crowdfunding", Entrepreneur, September 27, 2013. http://www.entrepreneur.com/article/228627</ref> Symbid was officially founded in April 2011 as one of the first [[equity crowdfunding]] platforms worldwide.<ref>"Filling the bank-shaped hole", The Economist. December 15, 2012. http://www.economist.com/news/briefing/21568365-europes-banks-are-shrinking-what-will-take-their-place-filling-bank-shaped-hole</ref> |
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Symbid was formally incorporated in [[Utrecht]], the Netherlands, as a cooperative entity ([[:nl:Coöperatie|Coöperatie]]) in accordance with Dutch law. This cooperative structure enables Symbid to complete all investment transactions online and store all invested capital in a separate third-party (trust) account as an electronically stored monetary value ([[e-money]]).<ref>'How it works', Symbid. https://www.symbid.com/pages/how_it_works</ref> As of March 2015, [http://www.intersolve.nl/ Intersolve], a company operating under license as an electronic money institution supervised by the [[De Nederlandsche Bank]] and the [[Netherlands Authority for the Financial Markets]], was responsible for managing this trust account.<ref>'Partners', Symbid. https://www.symbid.com/pages/partners</ref> |
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In November 2011, Symbid was granted the prestigious [[Shell LiveWIRE]] 2011 Audience Award alongside a cash prize after receiving 40% the online vote.<ref>'Symbid finalist in Shell LiveWIRE Award 2011', Symbid. https://www.symbid.com/press/3-symbid-finalist-in-shell-livewire-award-2011</ref> |
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===Expansion=== |
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As one of the first platforms of its kind, during 2012 Symbid quickly established itself as one of the leading platforms in the rapidly expanding European equity crowdfunding industry.<ref>"Unlocking the global trillion-dollar crowdfunding market", VentureBeat, December 24, 2012. http://venturebeat.com/2012/12/24/crowdfunding-market/</ref>This necessitated a relocation of its headquarters to larger premises in Rotterdam. |
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Symbid became actively involved in coordinating Dutch [[crowdfunding]] legislation at this time, in addition to co-founding several initiatives aimed at improving transparency and platform standards within the equity crowdfunding industry. These initiatives included the [http://www.crowdsourcing.org/caps Crowdfunding Accreditation for Platform Standards] (CAPS) in conjunction with [http://www.crowdsourcing.org Crowdsourcing.org] and the [[European Crowdfunding Network]] (ECN), a Europe-wide organisation involved in policy discussion and public opinion-building. Symbid is also a member of [[EBAN]], the European Trade Association for Business Angels, Seed Funds and Early Stage Market Players. |
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Between 2011 and 2013 Symbid grew in size considerably, becoming one of the first [[equity crowdfunding]] platforms to hire dedicated campaign managers tasked with assisting entrepreneurs in their crowdfunding efforts. In October 2012, [[Forbes]] named Symbid as one of the companies most likely to profit from the pending legalization of equity crowdfunding in the [[United States]] in accordance with President [[Barack Obama's]] [[JOBS Act]].<ref>"10 Companies Poised to Profit from the JOBS Act", Forbes, October 04, 2012. http://www.forbes.com/sites/jjcolao/2012/04/10/back-to-the-jobs-act-10-companies-poised-to-take-advantage/</ref> |
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The industry in which Symbid operates would soon come to be known as [[crowdfunding]]. While a number of online crowdfunding platforms began to appear on the web from 2006 onwards, including [[Pledgie]] (2006), [[Sellaband]] (2006), [[IndieGoGo]] (2008), [[FundRazr]] (2009), [[Kickstarter]] (2009), [[Fundly]] (2009), and [[GoFundMe]] (2010), these were associated mostly with creative projects and reward- or donation-based crowdfunding. |
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===Ownership interests=== |
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[[File:Logo_of_Gambitious.png|thumb|Gambitious logo]]From 2012 onwards, Symbid has maintained ownership interests in several affiliated companies, including [[Gambitious]], [http://www.equidam.com Equidam] and [https://kredietpaspoort.nl/ Kredietpaspoort] through its parent company, [http://www.symbidcorp.com Symbid Corp.].<ref>"Portfolio", Symbid Corporation Investor Relations site. http://symbidcorp.com/?page_id=34</ref> According to the website of [http://www.symbidcorp.com Symbid Corp]., parent company of Symbid, these ownership interests are motivated by a desire to improve the financial eligibility of [[small and medium-sized enterprises]] worldwide. |
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Symbid B.V. was incorporated in [[Utrecht]], the Netherlands, on March 29, 2011 as a cooperative entity in accordance with Dutch law. Symbid's cooperative structure means all transactions can be completed online while all investments made via the Symbid platform are held in a separate account as an electronically stored monetary value ([[e-money]]).{{Citation needed|date = March 2015}} This process is conducted in full accordance with the local regulatory institutions, including the [[Netherlands Authority for the Financial Markets]] (Autoriteit Financiële Markten - AFM).{{Citation needed|date = March 2015}} |
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| ⚫ | [[File: |
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The company was officially launched in April 2011 with its headquarters located in Rotterdam at the Erasmus Centre for Entrepreneurship (Rotterdam Science Tower). After receiving over 40% of the online vote, Symbid was granted the Shell LiveWIRE 2011 Audience Award alongside a cash prize.<ref>(Press Release) Symbid wins Shell LiveWIRE 2011 Audience Award. 23 December 2011. https://gambitious.com/press/20-symbid-wins-audience-award-shell-livewire-award-2011</ref> |
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| ⚫ | Initially |
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Revenues grew annually from 2011 to 2013, the majority of which came from Symbid's core crowdfunding activities as opposed to [[standalone software]] licensing and [[White-label product|white-label]] solutions.<ref>"S-1", General form for registration of securities under the Securities Act of 1933, SEC filing, 26 May 2014. http://www.sec.gov/Archives/edgar/data/1532595/000135448814002911/sbid_s1.htm</ref> |
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[http://www.Kredietpaspoort.nl Kredietpaspoort], an initiative partially funded by the Dutch Ministry of Economic Affairs, was co-founded by Symbid in 2014. Kredietpaspoort operates a tool designed to help entrepreneurs present critical business information to investors in a clear and standardized formate.[http://www.kredietpaspoort.nl www.kredietpaspoort.nl] |
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===Involvement in Gambitious & Equidam=== |
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| ⚫ | |||
As part of its diversification strategy, Symbid has maintained ownership interests in several affiliated companies, including [[Gambitious]] and [[Equidam]].<ref>"Portfolio", Symbid Corporation Investor Relations site. http://symbidcorp.com/?page_id=34</ref> |
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| ⚫ | |||
| ⚫ | [[File:Gambitious logo.jpg|thumb|Gambitious logo]]Founded in 2011, Gambitious functions as a crowdfunding platform aimed towards the Dutch video-game industry and operates under an exclusive Symbid license. Symbid was a founding partner in Gambitious and the company was organized formally as a Symbid spin-off in 2012. Gambitious B.V. is currently located adjacent to the Symbid offices in Rotterdam.<ref>Gambitious homepage. https://gambitious.com/</ref> |
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===Further expansion & relocation=== |
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| ⚫ | [[File:Equidam logo.jpg|thumb|Equidam logo]]Initially organized as an in-house project of Symbid, Equidam raised its starting capital on the Symbid crowdfunding platform and became a Symbid spin-off in early 2013. Equidam B.V. is also located adjacent to the Symbid offices.<ref>Equidam homepage. https://www.equidam.com/</ref> |
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| ⚫ | In February 2014 Symbid introduced a new user interface to its crowdfunding platform. Early 2014 saw Symbid |
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===Public listing & private placement offering=== |
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| ⚫ | |||
| ⚫ | On December 6, 2013 Symbid completed its share exchange, while simultaneously acquiring a [[Public company|public listing]] in the U.S. on [[OTCQB|OTCQB Markets]]. Symbid became the first publicly traded crowdfunding platform worldwide.<ref>"Leading Continental Crowdfunder Eyes World Domination". AltFi News. 10 July 2014. http://www.altfi.com/news/289</ref> A gross total of $1,549,368 was raised through the initial [[private placement|private placement offering]] (PPO), followed by a further $186,922 upon completion of a second PPO on February 5, 2014. More recently, on May 20, 2014, Symbid successfully conducted a third and final closing of a PPO raising a total of $1,190,405. The capitalization of the company is expected to assist with the execution of Symbid's strategic vision and a European roll-out of its crowdfunding platform beginning in 2014.<ref>"S-1", General form for registration of securities under the Securities Act of 1933, SEC filing, 26 May 2014. http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10064106</ref> As of June 2014, around 70% of all investments made via Symbid originated from the Netherlands.<ref>"Portfolio", Symbid Corporation Investor Relations site. http://symbidcorp.com/?page_id=34</ref> |
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| ⚫ | [[File: |
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===After going public=== |
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=== The launch of The Funding Network™ === |
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| ⚫ | In February 2014 Symbid introduced a new, redesigned user interface to its crowdfunding platform as it sought to make the investment process more user-friendly. Early 2014 saw Symbid continue to expand in terms of staff and revenues as increasingly high-profile campaigns were featured on its crowdfunding platform including Greendaddy which raised $333,960 (€245,000) in 47 hours in May 2014, setting a new record for the Dutch crowdfunding industry.<ref>"Greendaddy Sets New Dutch Crowdfunding Record While Securing $331,707 For Bamboo-Based Clothing". Crowdfund Insider. 15 June 2014. http://www.crowdfundinsider.com/2014/06/41928-greendaddy-sets-new-dutch-crowdfunding-record-securing-331707-bamboo-based-clothing/</ref> Other prominent campaigns have included Silent Sailing from the Archimedes - a research and development company specializing in designing noiseless, super-efficient wind turbines<ref>"Is this odd-looking wind turbine the most efficient you can buy?" The Washington Post. 10 June 2014. http://www.washingtonpost.com/blogs/innovations/wp/2014/06/10/is-this-odd-looking-wind-turbine-the-most-efficient-you-can-buy/</ref> - and Bidroom, a hotel booking platform which allows hotels to bid for their customers directly without having to use intermediary booking sites.<ref>"Bidroom: the holiday booking site that gets hotels to bid for guests." The Guardian. 23 January 2014. http://www.theguardian.com/travel/2014/jan/23/bidroom-the-site-where-hotels-compete-for-guests</ref> |
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Symbid and financial advisory firm [http://www.credion.nl Credion] signed a long-term partnership agreement in December 2014, creating the largest Dutch online funding platform with an expected transaction volume of $800 million in 2015.<ref>"Symbid & Credion Create Largest Dutch Online Funding Platform", Symbid Corp., 11 December, 2014. http://symbidcorp.com/symbid-credion-create-largest-dutch-online-funding-platform/</ref> The partnership sees Credion using the Symbid [http://www.symbid.com crowdfunding platform] to connect its nationwide network of investors and entrepreneurs. In addition, Credion will channel its entire transaction volume through Symbid's newly-added [[B2B]] service and monitoring product. The partnership has been described as the hybridisation of finance, combining alternative and traditional sources of funding.<ref>"Credion en Symbid creëren samen Nederlands’ grootste financieringsplatform voor MKB", Emerce, 11 December, 2014. http://www.emerce.nl/wire/credion-symbid-creren-samen-nederlands-grootste-financieringsplatform-mkb</ref> Credion Director Carlo van der Weg described the partnership as “streamlining the way in which entrepreneurs find that crucial investment." He added that "the funding portal we [Credion] are creating with Symbid means we can connect all our clients with the right investors while also attracting, venture capital, investment funds and other financial firms.”<ref>"Credion en Symbid creëren samen Nederlands grootste financieringsplatform voor MKB", Credion, 11 December, 2014. http://www.credion.nl/actueel/2014/12/credion-en-symbid-creeren-samen-nederlands-grootste-financieringsplatform-voor-mkb</ref> Although not revealed at the time, this strategic partnership was the precursor to the launch of [http://www.symbid.com The Funding Network™] in March 2015. |
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| ⚫ | [[File:Symbid's Headquarters at the Rotterdam Science Tower.jpg|thumb|Symbid's Headquarters at the Rotterdam Science Tower]]Symbid is also developing its ties with the European film industry. Symbid signed an exclusive cooperation agreement with [[A-Film|A-Film Benelux]] in May of this year, whereby Symbid will fund various upcoming Dutch movie titles including ‘The Surprise’, from Oscar-winning director [[Mike van Diem]].<ref>"Symbid Partners with A-Film Benelux to Crowdfund Films." Crowdfund Insider. 24 May 2014. http://www.crowdfundinsider.com/2014/05/40266-symbid-partners-film-benelux-crowdfund-films/</ref> |
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[[File:Symbid,_The_Funding_Network.jpg|thumb|left|The Funding Network™ by Symbid, connecting entrepreneurs to all types of finance]]On 4 March, 2015, Symbid announced a relaunch of its website and that it would be rebranding as Symbid, The Funding Network™. Previously an [[equity crowdfunding]] platform, as of this moment Symbid began offering a wider range of financial products and services for [[start-ups]] and [[small businesses]] including [[financial advice]], [[monitoring]] and both traditional and alternative financing options. In the official press release, Symbid described the launch as "representing the next phase in the evolution of the [[peer-to-peer]] model in the financial industry."<ref>"Symbid Launches The Funding Network™ for Start-ups and Small Businesses", Symbid Corp., 04 March, 2015. http://symbidcorp.com/symbid-launches-funding-network-start-ups-small-businesses/</ref> The Funding Network™ is described as the first comprehensive online funding platform for [[small and medium-sized enterprises]], providing entrepreneurs with direct access to bank loans, [[venture capital]], [[angel investing]], [[Factoring (finance)|factoring]], [[leasing]], [[equity crowdfunding]] and [[peer-to-peer lending]]. In addition to a redesigned website, Symbid released a new monitoring product which, based on [[XBRL]] data, enables investors to track the performance of small businesses.<ref>'Monitoring by Symbid', Symbid. https://www.symbid.com/pages/monitoring</ref> |
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As of March 2015, Symbid claims to have connected 30,000 private ([[crowdfunding]]) investors and over 40 institutional investors to [http://www.symbid.com The Funding Network™], plus affiliated online funding platforms active in niche industries, such as [http://www.FarmersFunding.nl FarmersFunding].<ref>'Services', Symbid Corp. http://www.symbidcorp.com/services www.symbidcorp.com/services</ref> As a follow-up to the launch, on 24 March Symbid and [http://www.economicboardutrecht.nl Economic Board Utrecht] (EBU) announced a strategic partnership to provide local, sustainable initiatives with loan capital via The Funding Network™. EBU formally committed over $1 million in [[growth capital]] to entrepreneurs on The Funding Network™ in 2015.<ref>"Economic Board Utrecht biedt MKB’ers nieuwe financieringsmogelijkheid", EBU, 24 March, 2015. http://www.economicboardutrecht.nl/nieuws/economic-board-utrecht-biedt-mkb%E2%80%99ers-nieuwe-financieringsmogelijkheid</ref> |
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=== |
=== Equity crowdfunding platform === |
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In 2013, SellanApp - an online app publisher - issued a 5% dividend to its investors after raising €250,000 over two rounds of crowdfunding on the Symbid platform in 2012.<ref>(Press Release) "SellanApp: Company value 10 times higher within a year after ending crowdfunding camaign." Symbid News. 13 September 2013. http://www.symbid.nl/press/132-crowdfunding-platform-sellanapp-pays-5-dividend</ref> In addition to this financial dividend, SellanApp's investors were also rewarded with value growth: between 2012 and 2013 its valuation increased tenfold to €2.97 million.<ref>(Funded by Symbid) "Case study: SellanApp". European Crowdfunding Network, European Commission's Startup Europe initiative. http://www.crowdfundingnetwork.eu/cases/case-sellanapp/</ref> |
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Symbid announced the formal incorporation of [http://www.SymbidItalia.it Symbid Italia] on 10 March, 2015, in partnership with [[Gruppo Banca Sella]]. The launch of Symbid Italia represents the first international expansion of the Symbid [[equity crowdfunding]] platform.<ref>"Symbid and Gruppo Banca Sella Create New Italian Investment Platform, Symbid Italia", Symbid Corp., 10 March, 2015. http://symbidcorp.com/symbid-gruppo-banca-sella-create-new-italian-investment-platform-symbid-italia/</ref> Although connected to The Funding Network™, Symbid Italia is intended as an equity crowdfunding platform and there are no plans to broaden its financing options. Marco Bicocchi Pichi, Italian Business Angel of the Year 2014, occupies the role of Managing Director.<ref>"Symbid & Gruppo Banca Sella Partner on Italian Investment Platform", Crowdfund Insider, 10 March, 2015. http://www.crowdfundinsider.com/2015/03/64102-symbid-gruppo-banca-sella-partner-on-italian-investment-platform/</ref> The partnership between Symbid and Gruppo Banca Sella involves Symbid's use of the banking group's payment solutions, banking services and network to introduce its B2B and B2C funding portfolio in Italy in 2015. |
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==See also== |
==See also== |
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*[[Investing]] |
*[[Investing]] |
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*[[Entrepreneurship]] |
*[[Entrepreneurship]] |
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*[[Small and medium-sized enterprises]] |
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== References == |
== References == |
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Revision as of 17:30, 27 March 2015
| Symbid's logo | |
| File:Symbid homepage.jpg Symbid's homepage | |
| Type of business | Public |
|---|---|
Type of site | Equity crowdfunding platform |
| Available in | Multilingual (4) |
| Traded as | OTCQB: SBID |
| Founded | June 1, 2011 |
| Headquarters | Rotterdam, Netherlands |
| Area served | Eurozone (2011–present) |
| Founder(s) |
|
| Key people | Korstiaan Zandvliet (CEO) Robin Slakhorst (CCO) Maarten van der Sanden (COO) Philip Cooke (CFO) |
| Industry | Crowdfunding |
| Subsidiaries | Equidam Gambitious Krediet Paspoort |
| URL | symbid |
| Users | 25,000 (active, July 2014) |
| Current status | Active |
Symbid is an equity crowdfunding platform headquartered in Rotterdam, Netherlands. Symbid was founded officially in April 2011 by Dutch entrepreneurs Robin Slakhorst and Korstiaan Zandvliet.
History
Early years
In early 2007, while studying an MSc in Entrepreneurship & New Business Venturing at Rotterdam School of Management, Symbid's would-be founders Robin Slakhorst and Korstiaan Zandvliet became aware that the vast majority of their fellow students were either unable or willing to pursue an entrepreneurial career due to the difficulties of receiving investment.[1] As the economic crisis took hold between 2007 and 2008, there was a large reduction in the general availability of business loans from banks and other traditional sources of funding.[2]
The industry in which Symbid operates would soon come to be known as crowdfunding. While a number of online crowdfunding platforms began to appear on the web from 2006 onwards, including Pledgie (2006), Sellaband (2006), IndieGoGo (2008), FundRazr (2009), Kickstarter (2009), Fundly (2009), and GoFundMe (2010), these were associated mostly with creative projects and reward- or donation-based crowdfunding.
Before going public
Symbid B.V. was incorporated in Utrecht, the Netherlands, on March 29, 2011 as a cooperative entity in accordance with Dutch law. Symbid's cooperative structure means all transactions can be completed online while all investments made via the Symbid platform are held in a separate account as an electronically stored monetary value (e-money).[citation needed] This process is conducted in full accordance with the local regulatory institutions, including the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten - AFM).[citation needed]
The company was officially launched in April 2011 with its headquarters located in Rotterdam at the Erasmus Centre for Entrepreneurship (Rotterdam Science Tower). After receiving over 40% of the online vote, Symbid was granted the Shell LiveWIRE 2011 Audience Award alongside a cash prize.[3]
Revenues grew annually from 2011 to 2013, the majority of which came from Symbid's core crowdfunding activities as opposed to standalone software licensing and white-label solutions.[4]
Involvement in Gambitious & Equidam
As part of its diversification strategy, Symbid has maintained ownership interests in several affiliated companies, including Gambitious and Equidam.[5]
Founded in 2011, Gambitious functions as a crowdfunding platform aimed towards the Dutch video-game industry and operates under an exclusive Symbid license. Symbid was a founding partner in Gambitious and the company was organized formally as a Symbid spin-off in 2012. Gambitious B.V. is currently located adjacent to the Symbid offices in Rotterdam.[6]
Initially organized as an in-house project of Symbid, Equidam raised its starting capital on the Symbid crowdfunding platform and became a Symbid spin-off in early 2013. Equidam B.V. is also located adjacent to the Symbid offices.[7]
Public listing & private placement offering
On December 6, 2013 Symbid completed its share exchange, while simultaneously acquiring a public listing in the U.S. on OTCQB Markets. Symbid became the first publicly traded crowdfunding platform worldwide.[8] A gross total of $1,549,368 was raised through the initial private placement offering (PPO), followed by a further $186,922 upon completion of a second PPO on February 5, 2014. More recently, on May 20, 2014, Symbid successfully conducted a third and final closing of a PPO raising a total of $1,190,405. The capitalization of the company is expected to assist with the execution of Symbid's strategic vision and a European roll-out of its crowdfunding platform beginning in 2014.[9] As of June 2014, around 70% of all investments made via Symbid originated from the Netherlands.[10]
After going public
In February 2014 Symbid introduced a new, redesigned user interface to its crowdfunding platform as it sought to make the investment process more user-friendly. Early 2014 saw Symbid continue to expand in terms of staff and revenues as increasingly high-profile campaigns were featured on its crowdfunding platform including Greendaddy which raised $333,960 (€245,000) in 47 hours in May 2014, setting a new record for the Dutch crowdfunding industry.[11] Other prominent campaigns have included Silent Sailing from the Archimedes - a research and development company specializing in designing noiseless, super-efficient wind turbines[12] - and Bidroom, a hotel booking platform which allows hotels to bid for their customers directly without having to use intermediary booking sites.[13]
Symbid is also developing its ties with the European film industry. Symbid signed an exclusive cooperation agreement with A-Film Benelux in May of this year, whereby Symbid will fund various upcoming Dutch movie titles including ‘The Surprise’, from Oscar-winning director Mike van Diem.[14]
In March 2014, Dutch Prime Minister Mark Rutte officially opened the new Symbid headquarters in Rotterdam.[15]
Equity crowdfunding platform
In 2013, SellanApp - an online app publisher - issued a 5% dividend to its investors after raising €250,000 over two rounds of crowdfunding on the Symbid platform in 2012.[16] In addition to this financial dividend, SellanApp's investors were also rewarded with value growth: between 2012 and 2013 its valuation increased tenfold to €2.97 million.[17]
See also
References
- ^ Robin Slakhorst, co-founder of Symbid, discusses collaboration between old & new financial institutions at TEDxRSM. November 18, 2013. http://tedxtalks.ted.com/video/Collaborations-between-traditio;search%3Atag%3A%22tedxrsm%22
- ^ "CSI: Credit Crunch", The Economist. October 18, 2007. http://www.economist.com/node/9972489
- ^ (Press Release) Symbid wins Shell LiveWIRE 2011 Audience Award. 23 December 2011. https://gambitious.com/press/20-symbid-wins-audience-award-shell-livewire-award-2011
- ^ "S-1", General form for registration of securities under the Securities Act of 1933, SEC filing, 26 May 2014. http://www.sec.gov/Archives/edgar/data/1532595/000135448814002911/sbid_s1.htm
- ^ "Portfolio", Symbid Corporation Investor Relations site. http://symbidcorp.com/?page_id=34
- ^ Gambitious homepage. https://gambitious.com/
- ^ Equidam homepage. https://www.equidam.com/
- ^ "Leading Continental Crowdfunder Eyes World Domination". AltFi News. 10 July 2014. http://www.altfi.com/news/289
- ^ "S-1", General form for registration of securities under the Securities Act of 1933, SEC filing, 26 May 2014. http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10064106
- ^ "Portfolio", Symbid Corporation Investor Relations site. http://symbidcorp.com/?page_id=34
- ^ "Greendaddy Sets New Dutch Crowdfunding Record While Securing $331,707 For Bamboo-Based Clothing". Crowdfund Insider. 15 June 2014. http://www.crowdfundinsider.com/2014/06/41928-greendaddy-sets-new-dutch-crowdfunding-record-securing-331707-bamboo-based-clothing/
- ^ "Is this odd-looking wind turbine the most efficient you can buy?" The Washington Post. 10 June 2014. http://www.washingtonpost.com/blogs/innovations/wp/2014/06/10/is-this-odd-looking-wind-turbine-the-most-efficient-you-can-buy/
- ^ "Bidroom: the holiday booking site that gets hotels to bid for guests." The Guardian. 23 January 2014. http://www.theguardian.com/travel/2014/jan/23/bidroom-the-site-where-hotels-compete-for-guests
- ^ "Symbid Partners with A-Film Benelux to Crowdfund Films." Crowdfund Insider. 24 May 2014. http://www.crowdfundinsider.com/2014/05/40266-symbid-partners-film-benelux-crowdfund-films/
- ^ Dutch PM Mark Rutte opens Symbid HQ. 13 March 2014. https://www.youtube.com/watch?v=o9nizIQHuWk
- ^ (Press Release) "SellanApp: Company value 10 times higher within a year after ending crowdfunding camaign." Symbid News. 13 September 2013. http://www.symbid.nl/press/132-crowdfunding-platform-sellanapp-pays-5-dividend
- ^ (Funded by Symbid) "Case study: SellanApp". European Crowdfunding Network, European Commission's Startup Europe initiative. http://www.crowdfundingnetwork.eu/cases/case-sellanapp/