Kagi Raises $670K

Re:Kagi Raises $670K by voytec on Thursday June 29, 2023 @05:25AM (#36518221)

Shame that the requirement to be an accredited investor was disclosed just before the round while previously forms only asked yes/no on this. $670k from just accredited investors is rather unimpressive.

I believe that it stopped a lot of folks from being able to invest in Kagi, since this issue was brought up in FAQ sent out by Vlad in May.

> Q: Can I still invest if I am not an accredited investor?

> A: Not through this round. If we organize a different vehicle in the future (e.g., crowdfunding), we will let you know.

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Re:Kagi Raises $670K by throwaway51057 on Thursday June 29, 2023 @06:17AM (#36518561)

That was a bad surprise for me too, but I understand why they did it this way. They were not after millions of dollars, but a (relatively) small amount.

I'm assuming accredited investors reduce the paperwork / liability and are a better plan A. As they secured their funding target with that scope, they don't need to action the plan B of non-accredited investors. That's less energy spent on investor relations and more on the product.

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