On Friday, April 26, 2019, federal authorities, pursuant to a search warrant, searched uBiome’s facilities in San Francisco. We are cooperating fully with federal authorities on this matter.
Our Board of Directors has appointed John Rakow, our General Counsel, as Interim CEO of uBiome, effective immediately.
Our Co-CEOs, Jessica Richman and Zac Apte, are currently on administrative leave as we conduct an independent investigation into the company’s billing practices, to be overseen by a Special Committee of the Board. Once complete, we will take any corrective actions that are needed to ensure we can become a stronger company better able to serve patients and healthcare providers.
Wefunder supports three different federal laws that allow startups to raise money legally. To comply with the law, Wefunder Advisors LLC and Wefunder Portal LLC (both owned by Wefunder Inc) also list startups depending on the regulation used.
Legal May 16th 2016
Wefunder Portal LLC
for 395 startups
Wefunder Advisors LLC
for 115 startups
for 3 startups
We are the largest funding portal for Regulation Crowdfunding.
Some fine print: 1) These numbers include startups currently live on Wefunder if they pass their minimum target. 2) Some startups use two different laws at the same time (i.e., Regulation D and Regulation Crowdfunding).
XX was built by Wefunder to invest in 20,000 new founders by 2029. In all 50 states across America. Of all backgrounds.
XX Team LLC and XX Investments LLC are independent companies that license software from Wefunder Inc. Wefunder Inc is the parent company of Wefunder Advisors LLC, an exempt reporting adviser that advises SPVs used in Reg D offerings. Wefunder, Inc. is not regulated as either a broker-dealer or funding portal and is not a member of FINRA. Wefunder Inc. and none of it's associated persons, board members, or officers have a financial interest in XX Team LLC or XX Investments LLC.
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