Perserbid, an online platform that allows homeowners to find, select, and hire local contractors, launched a securities crowdfunding campaign. Rather than more commonly known crowdfunding where one invests in hopes for an early look at a new product, this campaign allows investors to share in the financial success of the venture by investing funds to actually own a piece of the company.
"After managing some initial test users, we launched our platform in August are seeing lots of momentum," said Edwin Williams, the founder and CEO of Perserbid. The company currently operates in the Tri-Cities area of Northeast Tennessee and wants to expand their market reach to into Knoxville, Chattanooga, and eventually, Atlanta.
Edwin continued, "Both contractors and homeowners are finding our product differentiations useful."
The company has implemented a few early solutions:
First, improve communication opportunities for homeowners and contractors by allowing homeowners to take a picture of their current space, post an improvement job with that picture or pictures along with a written description of what they are looking for, and communicate with contractors to have a better understanding if they are the right fit.
Second, set up a blind bidding process so homeowners know they are getting a fair deal after estimates come in.
Third, hold the funds for the job in an escrow account and encourage a milestone payment process.
These concepts help protect both parties financially and bolsters the company's communication mission, resulting in clear expectations and higher quality work. Both homeowners and contractors can sign up, post, and/or bid on jobs at www.perserbid.com. There is no fee to join, no monthly fee, and no fees for leads. Perserbid only gets paid when jobs are won and milestones are met.
Perserbid is an active member of the Johnson City Area Homebuilders Association. The terms of the offering and other investment details of the equity raise can be found on the portal, www.startengine.com.
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