Planet EdTech Introduces Community Shares

Planet EdTech was founded to help future proof education for the next generation.

Planet EdTech wants to become a crowdfunded global media cooperative; owned by our readers and journalists. And we want you to be part of it!

Our target of £25,000 was the minimum that we calculated we need in order to have a reasonable chance at making a success of our plans for Planet EdTech.

But the more we raise, the more time and resources we can give ourselves to get this right in order to make Planet EdTech financially sustainable and increase our reach and impact.

With additional funding we will be able to allocate more to key needs such as employing core staff and investing in developing our content, website & online community. The funding will also mean we have a cushion to help us make ends meet and be resilient to any unexpected circumstances. Please help put us make Planet EdTech a success!

 

About Planet EdTech

Introducing Planet EdTech – a website dedicated to education technology, and an exciting new resource for educators and entrepreneurs alike. 

The brand new website wants to forge connections between the education and tech communities, empowering teachers to discover the best technology for their needs and inspiring entrepreneurs to create solutions to real problems facing teachers today.

Though still a new venture, Planet EdTech has impressive credentials – it is already partnered with Duolingo, Edmodo and Class Dojo, three of the world’s most respected EdTech companies, and with an engaged community shaping the topics and content, the site is set to become the go-to resource for anyone interested in educational technology.

It’s undeniable now that technology will shape how we educate ourselves and our children over the coming decades, and it’s crucial that educators and entrepreneurs have access to resources which help them solve many of education’s issues. Planet EdTech was founded to encourage teachers and inventors alike to communicate and collaborate, finding advanced solutions to age-old problems and futureproofing education for the next generation.

Planet EdTech is the first site of its kind, and will be a community-driven resource which is shaped entirely by those within the education and technology industries. Visitors to the site will be able to catch up on the latest news, read reviews and feedback on new products, and get the lowdown on all the latest edtech events – as well as being able to communicate with one another in a way that will benefit everyone.

One of the key strengths of Planet EdTech is that there will be no censorship – anyone is welcome to sign up and share their thoughts with a like-minded community, posting articles and reviews that they think will further the cause.

Planet EdTech will be a community run by the community, for the community. User experiences and reviews will fully inform everyone involved in educational technology of the best products available and how to use them to their full potential. This valuable feedback can then be passed onto developers, who have a real insight into what teachers and educators are looking for, and which solutions will prove most effective. The result? First-class education technology for all.

For more information, visit the website: http://planetedtech.com/

 

Community Share Offer   

What’s the story?

Planet EdTech is launching a community share offer, giving you the chance to become one of our owners. By creating a cooperative and selling community shares, we aim to raise a minimum of £50,000 to secure and grow our organization.

Planet EdTech wants to become a crowdfunded global media cooperative; owned by our readers and journalists. And we want you to be part of it!

Most of the news media in the UK is owned by a handful of corporations and proprietors. But instead, as a cooperative, Planet EdTech will be owned by hundreds or even thousands of people. We will then be accountable to you, our readers, ensuring that we always report in your interests.

Every shareholder will have an equal vote on things like electing the board of directors who will represent your interests in what Planet EdTech does, meaning it’s a more democratic from of ownership.

And because we are a cooperative, our profits will be reinvested in achieving the aims of Planet EdTech and serving our members.

Inspiring, not-for-profit media. Owned by you.

How will the funding be used?

This share capital will help cover our costs while we build our team, develop our website, and build the audience and the income stream that will sustain us in the long-term.

Although there’s no guarantee we’ll put it off, we believe this will be the making of Planet EdTech as we move from a niche to something much more influential. All we need is you.

How do I buy shares?

We are using the UK’s leading crowdfunding platform, Crowdfunder.co.uk to sell the shares online and track progress towards our budget.

 Who can buy shares? 

Shareholders must be aged 16 or over. You can buy shares wherever you live in the world through the crowdfunding platform we are using.

 How much do shares cost?

Shares have a nominal face value of £1 each and are offered with a minimum investment of £50, while the maximum is £10,000.

We are applying for Advance Assurance for Enterprise Investment Scheme tax relief, which, if we’re successful, will mean that for every £100 you invest, you can claim £30 of tax relief.

 What do I get?

Most importantly, you get to be a proprietor of the kind of media that you want – something normally reserved for media barons.

You’ll have the sovereign right to elect the board of directors who’ll oversee the operation of the business, and only you will be able to amend the Planet EdTech Charter, which will govern what our news values are and how we strive to put them into practice.

Regardless of how much is invested, every person who becomes an owner gets one vote, for as long as Planet EdTech exists.

 What are community shares?

Community shares refers to the sale of shares in businesses serving a community purpose. Planet EdTech is becoming a community benefit society, serving a “community of interest” – its international readership who wants to support constructive journalism.

Community Shares aren’t like normal shares brought and sold in companies. They still give you the opportunity to share in the success of the organization you’ve invested in, and you get a say in the way the enterprise is run but the similarity ends there. Firstly, community shares are one member, one vote, not one share, one vote. Secondly, shares can’t be sold on to someone else, and can only ever be transferred to someone else on your death. The enterprise can allow you to withdraw your investment in the future if it would be prudent to do so.

This means that investors have a big incentive to stay involved and engaged with the enterprise, rather than only being interested in getting a profit. We hope our investors will agree that a community share issue is a near-prefect fit with our values.

Can I make any money?

This is primarily a ‘social investment’, giving you the opportunity to support and have ownership of something you believe in.

However, you may be able to gain financial return on your investment in the future, if the organization is in a sufficiently profitable position. If we make a profit, surplus will first go towards increasing our impact, but the board has the power to say thank you to our owner-investors and pay a small rate of interest on shares. This isn’t something you should rely on to make you money, but we will do everything in our power to use your money to make a real impact for the values that our community shares.

We’re applying to HMRC to confirm that investment in Planet EdTech will give 30% tax relief to those who are in the tax system.

Do I get my money back?

These are withdrawable shares. This means that the board can allow people to take their money out at a small rate each year, if profits allow. We won’t consider this for at least the first three years as the focus will be reinvestment to make the business sustainable. But after then we have the ability to enable investors to get their money back at a small rate. This will only be at a set rate agreed by the board that investors will elect – likely to be in the region of 5% (of the total issued capital) each year. This might be lower in the event of overfunding, as more investors will dilute the pot of funds we will have to enable withdrawals.

Withdrawals can only happen if Planet EdTech is generating sufficient surpluses to allow this, so the single biggest factor in whether you can withdraw your money is how successful Planet EdTech is.

You should only ever invest what you can afford to be without and should not rely on getting your money back either in interest or withdrawals.

What ‘s the worst that can happen?

There are no guarantees in any line of business. The worst that can happen is that you lose the money you have invested in the event of Planet EdTech failing to get enough readers in future to be sustainable. Under those circumstances, the value of shares can fall, and can be lost in the event of the business needing to be wound up.

You won’t be liable for any more money in any event, but the money you have invested will be lost. You have no right to compensation form the Financial Services Compensation Scheme, or recourse to an ombudsman because Community Benefit Societies are exempt from the regulations governing public shares offers.

 

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