MyCoolClass Launches Community Shares Offer
MyCoolClass is the only global online learning platform cooperative owned by teachers, workers, and investor members.We are undertaking a share issue to raise the funds needed to develop our platform, effectively market our teachers’ services, and grow our society to become a profitable business. To reach our aspirations and to better the lives of online educators and their students, we are seeking philanthropically minded investors and everyday working people to invest and join our community with a cause.
Learn more at https://www.mycoolclass.com/community-shares/
Closing Date: June 10th, 2022
♦ Minimum Share/Individual: £100
♦ Maximum Share/Individual: £25,000
♦ Maximum Share/Organization: £100,000
♦ 5% interest paid annually from year 1 onwards
♦ Withdraw of capital targeted from year 3 onwards ♦ Voting rights in elections and polls ♦ UK investors can get up to 50% tax relief on their investment (SEIS).
Leo Sammallahti Thu 5 May 2022 12:24PM
Would be great if there is something MyCoolClass can offer something in return but in my opinion its no problem if that is not (at least yet) possible. I expect Coop Data Club to have mostly crowdfunding campaigns that ask other co-ops to promote them, but that cannot provide much help to co-ops who promote them - unless those co-ops happen to also have crowdfunding campaigns in later on. But remains to be seen what happens :).
Shared the campaign on Social Coop :).
John Hayes Thu 5 May 2022 1:03PM
Hi @Oli SB, Right now, exposure is key to meet our target raise. Anything helps whether that be social media, word of mouth, or mailing lists. We hope to be successful and to be an example for other platform cooperatives, especially those who wish to operate internationally. The majority of our 300 members are very new to cooperatives and just starting to understand them. As we grow (and hire a full marketing team) we will have a strong focus on principle 6 and have the resources to disseminate info to a global audience. This will certainly be a help for cooperatives who need international reach.
MyCoolClass just opened for business in July, so we are not profitable yet. We launched our share offer April 20th and started heavily promoting it last week. I will be a guest on All Things Co-op tomorrow discussing cooperatives in education and MyCoolClass. We are also working to get listed on Ethex and potentially seeking investors through Zebras United.
Like most investments, community shares are fully at risk. You can check out our share offer, business plan, and projections here for all the nuts & bolts. https://www.mycoolclass.com/community-shares/share-offer-business-plan-projections/
Oli SB · Thu 5 May 2022 8:36AM
Hi @John Hayes - thanks for posting this, are you looking for other co-ops here to add this detail into their newsletters and to post it on social media?
The Co-op Data Club is all about reciprocation, so it might help if you can explain what you can offer to other co-ops in return ;)
A few questions about MyCoolClass specifically:
How long has it been going?
What is your revenue?
Are you profitable already?
How do you guarantee the 5% interest?