Ok, heres what happened. 2 High school kids thought up this idea, but they had no $ to do anything with it. These 2 kids asked a friend of my brother's who's like 24 to get involed and put in some money. He then got my brother involved (this was about a full year ago). So then there was 4 people involved, 25% each share of the corporation. 2 HS kids put in no money, my bro and his friend put in $500 each to buy websites, etc. Then they realized they needed more $, they got an investor to put in $50K for attorney fees, web design fees, Apps for smartphones, etc. They gave the investor a 40% stake in the corporation. The 4 original guys stakes dropped from 25% to 15%. So 4 people with 15%, and 1 guy with 40% of the shares. The share % are for PROFITS. The investor doesnt get his invested $ back first and then it becomes profit. The contract states that from day 1, any earnings is divided by the appropriate share % amounts. They have received over 1,300 views last I knew in the first 36 hours. Honestly, regardless of the content, its enterntaining to high school and middle school kids (not most of us, including me). For my brother, putting in a measely $500 for a 15% share in company that already has their App approved for launching, is a pretty good deal for my brother. Worst case scenario he never gets back the $500 (very very unlikely), best case scenario the site goes huge. The 5 people involved all live across the U.S. so this site has begun to spread quickly through sources like Youtube, Twitter, Facebook, XBox, and colleges. They received a bunch of people clicking in from this website, so thanks to those who did. They have had people checking out the website from the U.K as well as Canada, Florida, Delaware, NY, NJ, Connecticut, etc....it will be months before they will get advertising offers, but most likely they will turn them down till its get as big as it can, then sell the site as a whole....only time will tell.
