The Business of Crowdfunding

May 9th, 2012

We know that small businesses are the job engine of our economy. Yet time and time again, we choke off entrepreneurs and small business owners from the capital they need to start and grow their businesses. To make matters worse, commercial banks, for the most part, have decided they are not interested in the small business market.

Don’t despair there is a way to get these businesses the support they need that doesn’t require government subsidies or loans. Building upon social networks and the Internet, people like you and I are making donations or loans and providing equity to help worthy business ideas get off the ground.

Today, on Business Matters we explore crowdsourcing and its implications for crowdfunding. We talk with experts on the evolution of this phenomena and entrepreneurs who are providing funding portals and programs that help connect donors and investors with those who need funding.

We also look at the potential impact of the Jobs Act of 2012, which was recently signed by the President. For the first time, it opens the potential to provide funding to small businesses from people who are not “accredited investors”. We may be seeing the dawning of a new financial system that can truly democratize business financing.

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Today’s Guests

Carl Esposti

Carl is the founder of and CEO of massolution. has become the “go-to” resource for the crowdsourcing and crowdfunding markets. Carl and the team are recognized for their intellectual capital, practical expertise and unbiased thought leadership. You can tap into their wealth of knowledge at

As CEO of massevoluation, Carl helps this advisory and implementation firm in createing crowdsourcing solutions for private, public and social enterprises.

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[audio: Esposti Inteview.mp3]

Slava Rubin

Slava is CEO and co-founder of Indiegogo, the world’s largest global funding platform. provides anyone with an idea — from entrepreneurial new business to creative projects to socially conscious causes — the online tools they need to raise money. Since Indiegogo launched in 2008, millions of dollars have been distributed to more than 55,000 campaigns around the world.

Prior to co-founding Indiegogo, Slava was a strategy consultant responsible for leading growth initiatives on behalf of clients such as MasterCard, Goldman Sachs, and FedEx. Slava is also the founder of “Music Against Myeloma,” an annual charity event that raises funds and awareness for cancer research.

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[audio: Rubin Interview.mp3]

Candace Klein

Candace is the founder and CEO of two successful startup companies: Bad Girl Ventures and SoMoLend .  Bad Girl Venture is a micro-lending program where individuals can donate money that is used to fuel women owned startups. Bad Girl Venture has linked these loans with a training program that equips participants with the tools for success. SoMoLend is new technology platform that connects business borrowers seeking loans with lenders looking to make a return on investment.

Candace also practice as an attorney with Ulmer & Berne LLP with a focus on corporate matters, business advocacy and government relations for startup companies and small
business clients.

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[audio: Klein Interview.mp3]

David Marlett

David is the Executive Director of the National Crowdfunding Association, which is the association of almost all crowdfunding portals in the United States along with a growing number of venture capitalists, investment banks, attorneys, accountants, software companies and other interested parties.

David has 25 years experience as an attorney and CPA putting together financing an array of industries, including: film and other media (his specialty), energy (oil, gas and alternative), health care, banking, real estate, high tech, retail, service providers, artists and designers, and engineers and inventors.

He speaks and writes regularly in the press and trade publications, and is a frequent speaker at entrepreneur and entertainment industry conferences across the U.S.

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[audio: Marlett Interview.mp3]

David Marlett

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