[jonpaine]

It appears that the Startup/issuer sets a static offering price [0]. When I envision how crowdsourced investing would reinvent this space, a huge component of the value added would be a degree of price-elasticity and feedback. It doesn't have to be a full-on auction, but getting the pricing right (for the issuer) seems like THE killer feature here... (thinking back to the concept of how Google priced their IPO )[1]. Offering a product that facilitated more innovative pricing structures at offering would be extremely compelling - and would greatly increase Republic.co's target market as well.

[0] https://republic.co/learn/issuers/how_it_works [1] http://www.wsj.com/articles/SB108328345314098183 (potential paywall)