Earlier today, Burger King ran full-page ads in the New York Times and Chicago Tribune calling for a “ceasefire on these so called burger wars” by inviting McDonald’s to help them create the newest fast food monstrosity: the McWhopper. Ronald and McD’s CEO, Steve Easterbrook, weren’t exactly amused.
BK’s plan is to combine the two companies’ signature burgers – the Big Mac and Whopper – then sell it at a pop-up restaurant somewhere in Atlanta on September 21. Proceeds would benefit Peace One Day, a nonprofit that aims to make the date an “annual day of global unity, a day of intercultural cooperation on a scale that humanity has never known.”
Earlier this month whistleblowing platform, WikiLeaks, announced the launch of a new crowdfunding campaign to gain more information on the Transatlantic Trade and Investment Partnership (TTIP). The campaign, launched on August 11, is designed to raise funds to offer whistleblowers a reward for any information about the impending trade, which has been negotiated in almost complete secrecy despite its global implications. To date, the campaign has raised $86,693.47 from 2,441 people, 79 percent of the $109,700 goal.
Target – the slightly more upscale Wal-Mart – has agreed to pay thousands of Visa card issuers up to $67 million after their colossal December 2013 data breach that exposed around 40 million credit and debit cards. The settlement comes after the rejection of a proposed $19 million deal with MasterCard due to a lack of support from its issuers.
Nearly two years after the fact, no one is quite sure just how much the Target breach affected issuing banks. Trade groups working with various banks and credit unions have estimated costs of over $350 million to reissue cards and handle the financial muddle, but that number could actually be higher given the fact it costs small banks around $11 to reissue a card and roughly $20 per customer service call.
The nation’s largest privately held company, Cargill, has agreed to purchase Norwegian-based EWOS, one of the world’s largest suppliers of feed and nutrition for farmed fish. The $1.5 billion deal signals Cargill’s entry into salmon and trout markets and is the company’s second aquaculture deal in the past two months after it announced a $30 million shrimp feed facility project in Ecuador with Naturisa.
At this point, you can crowdfund just about anything. Campaigns to raise funds for medical bills, student loans, movies, new inventions, and startup capital have sprung up from all over the world, which led the crowdfunding industry to generate $16.2 billion globally last year in funding transactions. A new trend is emerging within the industry – platforms designed solely for litigation crowdfunding.
Platforms such as Invest4Justice, which became operational last year, have set out to provide both plaintiffs and defendants with legal funding from a crowd of investors or donors, asserting that those investors and donors can collect rewards that exceed 500 percent of the amount of funding provided. To date, the site claims to have raised $2,969,736.65 for 31 litigation crowdfunding campaigns.
Colorado is now the newest state to approve intrastate crowdfunding allowing the state’s residents to be able to purchase stock in local, private companies without becoming an accredited investor. At this point, 24 states have passed laws or rules allowing for intrastate equity crowdfunding.
Under the Colorado law, businesses can raise capital of up to $1 million with the potential to increase that to $2 million if they submit audited financial statements. Investments are limited to $5,000 per person, although other states have allowed up to $10,000. Generally, intrastate crowdfunding regulations limit investment size to ten around percent of a person’s annual salary. Accredited investors within the state have no limit to the amount they can invest.
Whether you love him or hate him, tonight marks Jon Stewart’s final taping of The Daily Show as he steps down as host – a position he’s held for 16 years. During that time, the show has won 20 Emmy Awards, two Peabody Awards, and Stewart even managed to win a Grammy for himself in 2005 for the recording of his audiobook, America, A Citizen’s Guide to Democracy Inaction.
Despite the fact Stewart has always claimed The Daily Show is just a fake news show, the influence he’s had on politics and the media cannot be denied.
(photo illustration; original by Balansboy)
Elio Motors announced earlier this week that it has received “non-binding indications of interest” valued over $25MM through its initial crowdfunding campaign on StartEngine. To date, the company has received $25,436,650 from 6,773 people, averaging $3,755 per person, and will continue to take additional expressions of interest while working with the SEC on next steps. It will eventually proceed with filing an offering statement and will begin to make a formal stock offer to interested investors after approval.
A bill that would allow non-accredited New Jersey residents to invest businesses within the state recently passed the Assembly 75-0. The bill now sits on Governor Chris Christie’s desk, ready for him to sign.
State senators Joe Kyrillos (R) and Ray Lesniak (D) originally introduced the bill in 2013, which allows New Jersey-based entrepreneurs to raise up to $1 million in private capital from non-accredited state residents. Those residents will be able to invest up to $5,000 in crowdfunded projects.
(Photo Credit: NASA)
On Monday, the 46th anniversary of the Apollo 11 moon landing, the Smithsonian launched its first crowdfunding campaign they’re calling “Reboot the Suit” to conserve, digitize, and display Neil Armstrong’s spacesuit that he wore on the moon. The museum has raised over 86 percent of its $500,000 goal since the launch of the campaign.