UK startup Frostbox, which aims to be the Dropbox of social media, is offering up pieces of the company to investors -- but only those with Klout scores of 60 and above.
The program, run via Wahooly, is based on the premise that publicity from such social media mavens should translate into equity in the company. Dana Severson, co-founder and CEO of Wahooly, says the share of equity is based on the amount of social media activity. Severson declined to disclose exactly how much of Frostbox is being offered, though typically companies offer equity in 1% to 8% of their companies. Wahooly partnered with Klout last year.
Like previous funding efforts, Wahooly skirts SEC rules by offering i…
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More About: Frostbox, Startups, Wahooly
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