Providing Startup Financing Solutions Since 2001

Today you can find all sorts of experiments out there on new ways to raise money. I first heard of the personal IPO a year or two ago. Today Wired has a long article on it.

Man Who Sold His Fate to Investors at $1 a Share

On January 26, 2008, a 30-year-old part-time entrepreneur named Mike Merrill decided to sell himself on the open market. He divided himself into 100,000 shares and set an initial public offering price of $1 a share. Each share would earn a potential return on profits he made outside of his day job as a customer service rep at a small Portland, Oregon, software company. Over the next 10 days, 12 of his friends and acquaintances bought 929 shares, and Merrill ended up with a handful of extra cash. He kept the remaining 99.1 percent of himself but promised that his shares would be nonvoting: He’d let his new stockholders decide what he should do with his life.

Read the full Wired article here.

Leave a Reply

Your email address will not be published. Required fields are marked *