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Once again, the French Morning and Frenchly community of readers was there. Our latest fundraising campaign, in the form of equity crowdfunding, enabled 125 shareholders to join us.
In total, we raised nearly $100,000, twice the minimum required to confirm the campaign. The average investment amounts to $750, but the contributions varied: from $105 — the minimum required — to $25,000. The entire French Morning Media Group team would like to thank everyone for their support.
These new investors are mainly based in the United States (84%), but there are about ten in the United Kingdom and five in Quebec, the result of our recent establishment in London and Montreal. In the United States, California wins the prize, with 20 investors, ahead of Florida and New York (15 each).
Our initial target was $200,000. We will therefore continue the effort, excluding crowdfunding, with business angels, while starting to prepare for our launch in Asia, the goal of this campaign. On this matter, the events in Hong Kong are forcing us to revise the initial plans, but we are still aiming for a first opening on the Asian continent in 2020, while continuing to develop the Montreal and London editions, launched following the previous crowdfunding operation two years ago.
