Tag Archives: Steve Lucas

With the Launch of “Pop-Up Megaplex” Prequel, EquityEats Rethinks Its Business

Source: Washington City Paper Young & Hungry

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The dark red stone building at 918 F St. NW has remained fairly quiet since LivingSocial stopped using it as a hub for cheesemaking, bellydancing, vodka tasting, and terrarium-building classes. But last week, the shuttered event space became home to a pop-up once again. Bluebird Bakery, from two of the city’s top pastry chefs, has taken over the first floor atrium with a spread of croissants, fruit tarts, macarons, and other baked goods displayed on wooden boards and turquoise cake stands. A coffee bar serves La Colombe, while an upstairs seating area provides a home for anyone who ...

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You Can Now Invest In D.C.’s First “Pop-Up Megaplex”

Source: Washington City Paper Young & Hungry

918Last week, EquityEats announced that it will open a “pop-up megaplex” in the former LivingSocial event space at 918 F St. NW this spring. Restaurants using EquityEats’ equity crowdfunding platform and other local chefs will be able use the building to showcase their food and drinks to potential investors and the public. The “movie theater but for foodies” will be able to accommodate up to five pop-ups at any given time.

Now you can invest in the complex, which is called Prequel. And not just in a get-a-free-t-shirt Kickstarter kind of way. Anyone, regardless of income, will be able to ...

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EquityEats Will Open “Pop-Up Megaplex” at 918 F Street NW

Source: Washington City Paper Young & Hungry

MainBuilding-ADJRestaurant crowdfunding platform EquityEats—which allows investors to earn profits, not just perks—has quickly realized that the best way to get people to back food businesses is for them to actually taste the food and meet the chefs. And so they’ve been searching for a permanent space where restaurants seeking funding can host pop-ups and residencies for potential investors and the public.

Now they’ve found that plus some: EquityEats has subleased five floors of 918 F St. NW, the building that LivingSocial used for events and classes before moving out a year ago. The new facility, which includes a basement bar, will be ...

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EquityEats Rethinks Its Timeline and Looks to Open Pop-Up Space

Source: Washington City Paper Young & Hungry

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When it launched in October, equity crowdfunding site EquityEats aimed to raise money for four new restaurants within 45 days. But two-and-a-half months after the launch, none of the projects have reached half of their goals, and two of them aren’t only around 10 percent of the way there. EquityEats, which allows investors to earn profits, not just perks, has extended all of the campaigns—with 67 more days to go.

Granted, EquityEats founder Johann Moonesinghe set out with some lofty ambitions. The restaurants seeking funding through the platform—a bakery, a seafood counter, a lobster and burger joint, and a seasonally-focused American restaurant—are aiming ...

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There’s Something Crawling Around in This Swag Bag

Source: Washington City Paper Young & Hungry

Between all the galas, fundraisers, and VIP events, D.C. is a city swimming in swag bags. But EquityEats—a new restaurant crowdfunding platform in which investors earn profits, not just perks—may have just outdone them all at its launch party last night. As guests parted the event at Doi Moi, hosts handed out bags with live lobsters.

The idea came from EquityEats CEO Johann Moonesinghe as a way to promote one of their restaurants seeking funding called Lighthouse, which plans to serve a menu limited to burgers and whole lobsters.

“We were kind of like, ‘Are you serious?'” says Steve Lucas, the vice ...

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A New Restaurant Crowdfunding Platform Offers Profits, Not Just Perks

Source: Washington City Paper Young & Hungry

For four years, Brittany Frick and Greg Kakaletris have talked about opening a seafood restaurant of their own. Inspired by a more than 100-year-old San Francisco institution called Swan Oyster Depot, they envisioned a small counter spot where the people cooking the food are also the ones serving it. Guests would sit on stools and chow down on smoked mussels, charred octopus salad, oysters, crudos, and other seafood dishes. They named it after a type of fisherman’s knot: Albright Special.

Kakaletris brings 10 years of front-of-house and bar experience at places like Estadio and 2 Birds 1 Stone...

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Four New Restaurants Seek Funding With the Launch of EquityEats

Source: Washington City Paper Young & Hungry

D.C.’s first restaurant equity crowdfunding site, EquityEats—where investors can earn profits, not just Kickstarter-like perks—launches today. Four businesses are seeking funding through the platform to start: a bakery, a seafood counter, a lobster and burger joint, and a seasonally focused American restaurant.

EquityEats is the brainchild of tech entrepreneur Johann Moonesinghe and co-founders Jason Pinto, Andrew Harris, and Steve Lucas. The team initially set out to allow anyone invest, but restrictions related to securities law and private investments proved too cumbersome. So at least for now, the platform will accept money exclusively from “accredited investors”—people with a net worth of $1 million (which can ...

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Equity Crowdfunding Site for Restaurants Prepares for D.C. Launch

Source: Washington City Paper Young & Hungry

downloadIf you want to be a restaurant investor, you pretty much have to be rich.

The Securities and Exchange Commission makes it a big pain for restaurants or other businesses to accept funds from anyone who isn’t an “accredited investor.” And to be an accredited investor, you have to have a net worth of $1 million (which can include assets owned jointly with a spouse, but not the value of their primary home), or an income of at least $200,000 for the last two years ($300,000 with a spouse). If you don’t have that kind of cash, you can technically ...

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