We get it. People will ask, "so, why does Big Laugh think they're a startup now?"
To be blunt about it, we kinda are.
Equity crowdfunding allows us to bet on ourselves. We've wanted to do bigger things - ones without restrictions, limitations, or giving up any power of the company's direction. We also came to a fork in the road on what the brand could be but what Big Laugh Comedy meant - not to us internally but to the people. How could we turn fans into advocates and ambassadors?
Get people involved. Give people the opportunity to own this thing. This way, you have skin in the game. We've already made a lot of people money. Why stop now?
You have to have a vision
Big Laugh Comedy's goal has always been to change the game. And for the better. The mission is to create a brand that is an advocate for comedians. Giving comedians, at every level, in the comedy game a place where they can go to achieve their dreams.
At the same time, giving the world an outlet to laugh as much as possible. To flip the culture from one driven on fear, hate and negativity to a culture of hope, laughter and positivity.
In order to reach those goals and dreams, we need funding.
So we began to explore our options.
The path to get to this decision has not been easy. We've explored possible opportunities - self-funding, traditional bank loans, SBA loans, VC money, angel investors, private investors, and even selling our bodily fluids.
The Decision To Use Equity Crowdfunding
I knew getting a traditional bank loan would be a challenge. I started exploring finding private investors. I looked into every angle. Some people showed immediate interest, and we still have those connections.
But, there are a lot of hoops and a lot of red tape. This isn't a SaaS company with a clear throughline.
What we are doing to do has never been done. While we could have borrowed cash, it would have come with many caveats because once you give suits your soul, you're compromising the possibility of the future - we deal in comedy, and comedy says fuck and gets into trouble.
One of our team members, Nate, got to work and researched options for funding through various platforms. Equity crowdfunding became the obvious choice. Here’s why:
Anyone can invest - it is super essential that comedians and fans can get involved
It helps achieve the mission of building a brand by the people for the people
Don't have to give up control
Can have thousands of investors all under one cap
Relatively easy to get started once funded
StartEngine was the clear choice for the equity crowdfunding platform. I'll have another post about the reason for StartEngine.
It's a process and one that the entire team has been working hard on for months. Now, we are here. Hopefully, by the time you are reading this, we have hit our initial goal of $1.07M. Moving on to our goal of $5M.
It's a lofty goal, but we think we'll be able to rock this thing. If you want to get involved, you can.
The campaign is about to go live. When it does, you’ll have an opportunity to invest. In the meantime, go check out StartEngine and start an account.
Also, sign up for our exclusive VIP list if you have not already. That way, when the campaign goes live, you’ll be the first to know.