Fundrise

Fundrise Parent Blows Out Reg A Offer

Rise Companies, the holding company for the Fundrise online real estate crowdfinance platform, has broken a record for funds raised in a Regulation A Tier 2 offering, pulling in $14.6 million in 24 hours of initial selling.

The company’s initial offering filing on December 29 for a maximum raise of $10 million was approved by the Securities and Exchange Commission in just 30 days. The company began selling shares on February 1. To accelerate the process only investors who had previously invested in Fundrise deals or were early investors in the company were allowed to participate in the offer.

8tracks

Far Short of $11M Goal, 8Tracks Pivots to Survival Mode

Acknowledging to shareholders that its six-month long campaign to raise $11 million via a Tier 2 Reg A offering has yielded only a fraction of the capital it sought to build out its music streaming service, 8Tracks, Inc., announced that it will sharply curtail its business activities, forgo compensation for its staff, and pivot its business model away from advertising to a subscription-based service.