In a recent press release on PRNewswire, five major real estate companies announced their plans to acquire a California-based platform known as Tycoon Real Estate. After the acquisition, Tycoon would be overhauled and also revamped by the group. This acquisition is the first of its kind of a real estate crowdfunding platform. Although the acquisition is ongoing, the purchasers didn’t disclose the financial and cash transaction terms. The crowdfunding platforms interested in acquiring Tycoon are Patch of Land, EquityRoots, CrowdFranchise, American Homeowner Preservation and Peer Realty.
The Chief Executive Officer of Patch of land Jason Fritton said that a larger awareness has been created concerning real estate crowdfunding due to Shark Tank episode that featured Tycoon. He continued to say that they have an opportunity to give details of regulatory environment that has allowed crowdfunding and the success the companies have enjoyed. The leaders across crowdfunding field have a special opportunity to transform Tycoon into an educational platform and discredit the sentiment of Sharks regarding the industry.
All the executives of the crowdfunding group were excited about the major step they took in the acquisition of Tycoon. They agreed that after Title III was approved recently, it is an ideal time for most people to be able to invest properly. The Title III was approved by SEC hence allowing non-accredited investors to invest in crowdfunding. Indeed, crowdfunding is expected to have a bright future after five platforms partnered to ensure the success of this project.
Tycoon Real Estate is a company that started to operate early in the crowdfunding market. The company has been focusing on both commercial and residential investment opportunities to its client base. The strategy of this acquisition is to let people use online services to find investment opportunities in different sectors of the economy. All the five crowdfunding platforms share a similar vision of developing an efficient and effective online capital that would accommodate the community at large.
About Majeed Ekbal
Majeed Ekbal is a prominent personality across Chicago business fraternity. Currently, he is the relations manager in charge of clients at Razorfish since 2012. Majeed is recognized as a principal leader in public relations as well as marketing. He has largely contributed to the development of social media initiatives for several clients in consumer brands and healthcare sectors.
Majeed Ekbal is a graduate of American University in Washington focusing on international business and marketing. In Chicago, he is recognized for his role in marketing and innovation sectors. Majeed has gained excellent reputation across the U.S. for working tirelessly in development sound marketing initiatives for his clients. His performance record is evidence about his entrepreneurial and leadership skills in a highly competitive city in the technology and marketing fields.