Crowdfunding in the end where the introduction of worry?

"Use the system to avoid the gray area rules" - the earliest players in the domestic Crowdfunding "Everyone casts" CEO Li Qunlin explained his original intention to launch the 2.0 version.

Tomorrow, Li Qun self-proclaimed "open a new chapter in equity crowdfunding," we vote on the line version 2.0, including the new project integration mechanism, the market valuation mechanism, lead investors and with the input restriction mechanism, investment management Mechanism, exit mechanism, risk compensation mechanism six plates.

In short, the rules of equity crowdfunding are more detailed.

Qing dynasties recently released research shows that in May equity crowdfunding platform investment case only 17 cases, the financing amount is about 11,120,000 yuan, accounting for just over the pre-sale class crowdfunding, reaching 54.15%.

Part of the reason is that the industry is still in the early stages of development, but it does reflect a number of problems - the imperfectness of the rules of the industry allows participating parties (such as investors) to be scared. So, we may cast a 2.0 version of the new game, to push the industry what exactly has emerged.

First look at the valuation of the market mechanism. The logic introduced by this mechanism is that the previous valuation was not market-oriented. Li Qunlin did not cover up the lack of investment in the project valuation system, he told the author, after we put out the valuation of the project by the project source (that is, entrepreneurs) and the intermediary (that is, cast) investment research team together Agreed, investors do not have any bargaining power in it.

This presents a problem: Since it is the entrepreneur's own project, entrepreneurs will certainly be given a high valuation of subjective. It is questionable whether intermediaries have sufficient expertise to give reasonable valuations.

Why do you say that? First, startups that typically fund crowdfunding sites with light industry (such as Internet applications) often have unstable business models or even products that have no patterns. At this time, the routine evaluation of the value of the project may fail, and the importance of empirical judgment is demonstrated, and the empirical judgment must be based on a long-term follow-up. Try to ask, even if we vote for the first player is less than two years, how to ensure that the entire industry's long-term follow-up of the project team team members and judge the place?

Second, aside from professionalism, it is likely that intermediaries will likely incur higher valuations of ethical business ethics in order to charge project commission fees more quickly.

Second, even if some intermediaries are of good quality and high moral standards, the quantity is limited after all. As far as I know, every team that is responsible for making equity and valuing crowdfunding in equity is only about 5 in number.

Crowdfunding companies in the valuation of the embarrassment facing the reliability, from the above three aspects can be seen.

Take a look at the constraints of lenders and investors. The introduction of this mechanism is based on the fact that there is a gray area in the relationship between the lead investor and the project owner. Many platforms do not have enough ways to define whether the project party should create a benchmarking effect by attracting other investors with the platform cast. Li Qunlin said that before the industry usually provides that the project side and investors can not be kinship, but for the definition of "friend" relationship, there is almost no platform to ensure 100% avoidance.

This also led to the homeopathy risk compensation mechanism released. If the bad situation happened, the project side malicious misappropriating and bankruptcy, how to protect the rights and interests with the investment? Li Qunlin said that prior to seeking only judicial procedures to resolve this compensation relative to many investors to pay the funds and time costs are not equal, will also consume investors trust in the platform, so the introduction of insurance mechanisms is necessary.

What is even more frightening is that equity crowdfunding may face another layer of worry that the "oppression" of product crowdfunding was inadvertently received.

Zero2IPO Research reported that crowdfunding investors in May favored industries such as mobile Internet and online social services. It is noteworthy that this product pre-sale crowdfunding projects almost overlap.

The logic behind this is scary. Especially after Jingdong launched crowdfunding with product incubation last week, the project's diversion effect may show up. Because relative to the entrepreneurs, rather than to introduce so much knowledge or knowledge of "small shareholders", it is better to hug the tycoon thighs.

While there is plenty of cold water for equity crowdfunding, we also need to look at the industry from a positive perspective.

In fact, equity crowdfunding has been doing self-optimization since the early period was questioned "illegal fund-raising", the rapid response to the limited partnership in the form of shares, limit the number of project financing and financing threshold, the establishment of third-party funds managed accounts, etc., to evade regulatory authorities Relevant red line to the main body of the stock issue; to the present various mechanisms to leak fill, we can see that this industry has the sincerity of players efforts. In fact, this series of efforts has also been fruitful. This does not mean that equity crowdfunding has entered the perspective of the regulatory authorities and relevant leaders personally led a number of equity crowdfunding companies. The regulatory details are said to have landed at the end of the year.

Crowdfunding may also worry about a long time, but I believe will continue to self-regulation in the forward development.