Business
Digital Arts Media Network Completes Acquisition of Equity Stake in truCrowd to Expand Accelerator Service Offerings
Digital Arts Media Network Completes Acquisition of Equity Stake in truCrowd to Expand Accelerator Service Offerings.
About this update from Digital Asset Monetary Network, Inc.
[{"type":"text","content":"\n\n NEW YORK, March 20, 2018 (GLOBE NEWSWIRE) -- Digital Arts Media Network, Inc.  (OTCMKTS:DATI), a specialized tech accelerator leveraging the Public Accelerator-Incubator (PAI) model, announced today that as publicized by truCrowd, Inc. (owner and operator of www.truCrowd.com), the Company has completed talks and executed an agreement with truCrowd, to acquire up to 39.89% in the SEC registered, FINRA member crowdfunding portal.\n truCrowd is 1 of only 38 Reg. CF portals  currently registered with FINRA.  As one of the first crowd funding portals to register with the SEC, DATI’s management targeted truCrowd due to its management’s long-standing experience in the crowdfunding space.  With approximately 6,000 registered users, truCrowd has been successful in meeting their client’s/issuer’s capital targets.  Furthermore, truCrowd is positioned to have a positive impact on DATI’s business model. As part of Invest+, DATI has purchased a 19.9% equity stake in truCrowd that will vest over 6 months, with an option to acquire an additional 19.99%.  In this bold move, DATI has strengthened its service offerings to startup and development stage companies, in addition to bolstering DATI’s value proposition to angel investors and “disenfranchised investors” (microcap and non-accredited investors).  The opportunity for more startup and development stage companies to leverage Angels+ has also increased significantly with this agreement; truCrowd itself will leverage DATI’s Angels+. “Tech startups are continuously looking for alternate, faster ways to raise capital, while keeping some semblance of control and remaining compliant with securities laws,”  said Digital Arts Media Network CEO, Ajene Watson.  “This is especially true as we have seen a surge in blockchain related projects and we want to position DATI at the forefront of a changing business landscape.” Having the ability to appropriately leverage a FINRA member crowdfunding portal, gives DATI’s client-startups additional avenues to access capital, faster.  The truCrowd portal can also offer an additional method to introduce a company and its products to their marketplace.  By adding the truCrowd platform to DATI’s service offerings, the Co...