[carlosrt]

Naval probably hatched this plan when VC's screwed him in Epinions. Brilliant payback.

In the USA one still can't crowdfund (from non-accredited investors) yet, but in a couple of months one will be able to share with the general public that they're fundraising.

These raises are possible because of Rule 504, 505, & 506 of the SEC.

Seed offerings: http://www.sec.gov/answers/rule504.htm Series A: http://www.sec.gov/answers/rule505.htm Series B & later: http://www.sec.gov/answers/rule505.htm