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November, 2024

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Red Mountain kickstarter?

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-eREKTion-
Posts: 1628 - Karma: 10,933
https://www.frontfundr.com/entrepreneur/companyV2/1627

It looks like Red Mountain is trying to raise capital without selling out to private equity... good on 'em. It seems like they're going to get the funding for sure, it'll be interesting to see how something like this plays out. Hopefully this is a case study on how locals and passionate skiers can stand up for beloved but less profitable ski areas, #Don'tMammothJune.
Sep 19 2017 10:16PM
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a_burger
Posts: 5240 - Karma: 20,806
or you know you could do it the normal way like MRG and actually sell shares that have value and give you a say in how the mountain is run... but i guess "limited edition" skis are cool too.
Sep 19 2017 11:12PM
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-eREKTion-
Posts: 1628 - Karma: 10,933
a_burgeror you know you could do it the normal way like MRG and actually sell shares that have value and give you a say in how the mountain is run... but i guess "limited edition" skis are cool too.


FrontFundr isn't kickstarter, it's equity funding, you get shares in the company you're "funding".

"But that’s not all. In addition to the equity you purchase, based on your investment level you’ll also be given additional rewards sure to appeal to ski and snowboard enthusiasts (take a look at the list breakdown) from custom, limited edition skis and snowboards; to lift tickets, season passes; and even overnight stays on new mountaintop cabins." - Quote from funding page

In fairness, 1.5 million isn't a huge amount of money for a medium sized ski hill. For that reason, it seems highly unlikely that any participant of this fundraiser will have voting shares.
Sep 19 2017 11:36PM
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a_burger
Posts: 5240 - Karma: 20,806
-eREKTion-In fairness, 1.5 million isn't a huge amount of money for a medium sized ski hill. For that reason, it seems highly unlikely that any participant of this fundraiser will have voting shares.


This just seems like a wierd way to go about it, theyre selling it like a souvenier rather then what it is. "Fight the man" just makes it seem cheap when they could just do a normal community fundraising effort.
Sep 19 2017 11:48PM
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SofaKingSick
Posts: 9327 - Karma: 61,270
i don't know enough about that stuff to have an opinion on the fundraising thing but i do like that such a sick mountain is trying to stay out of the corporate hands. wish i could buy in
Sep 20 2017 9:24AM
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