A digital media incubator called 3 Guys in a Garage has launched an innovative social networking challenge to gain referrals to potential seed- and early-stage investors.
3 Guys in a Garage is banking on the power of social networks and word-of-mouth to finance its new media products and ideas. According to Cornelius Colin McNab, its founder and managing director, “We are offering $100 cash to each person who refers an investor to us. 3GG is doing things differently by using the power of social networking to get the funding we need to develop our big ideas. There are a lot of people out there who would love to get involved in the type of work we do – building and launching new businesses over the Internet, and making big ideas become reality. Here is a way for everyone to get involved as a virtual venture capitalist, by using their networks to help us find investors. As a reward incentive, we will give $100 US cash for each referral that leads to an investment in 3GG or one of our product ideas. Anyone can view a list of our ideas on our website, and then contact us if you or someone you know might be interested in becoming an investor. Our goal is to get over 100 referrals that lead to $500,000 investment in one month.”
McNab, who is a former digital media strategist and new products manager at Turner Broadcasting System, claims that he founded 3 Guys in a Garage to “do things different,” and he has a track record of doing just that. McNab was part of a small team that launched TBS’ VeryFunnyAds.com, an Internet video site featuring entertaining TV commercials, in 2006, when many consumers were using Tivo to skip commercials.
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