Forbes: Mike Mann Intends to Raise $1 Million in Seed Funding for Cashless.com | DomainInvesting.com
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Forbes: Mike Mann Intends to Raise $1 Million in Seed Funding for Cashless.com

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There are a few people in the domain industry that seem to get lots of good publicity, and Mike Mann is one of those people. This week, Forbes ran an article about Mann’s Cashless.com startup, and it’s well worth a read.

At the moment, the business has not yet launched, and the domain name is parked at Smartname. However, a major fundraising effort is under way, and Mann hopes to begin staffing the company soon.

According to the article, Mann “intends to raise $1 million in seed funding over the next three months” from friends and family. The company will launch in south Florida as a testing bed, and should it prove to be a hit, the expectation is that it will expand and further fund raising efforts will be made beyond friends and family.

Knowing Mann’s deep connections from within the domain industry, should Cashless.com be a big hit, there may be a lot of money flowing back into the domain space. Based on Mann’s track record, I wouldn’t bet against him. I don’t think the guy sleeps, and if he does, it’s next to his computer.

This will be a company to follow.

Thanks to TNT for originally sharing the article.


About The Author: Elliot Silver is an Internet entrepreneur and publisher of DomainInvesting.com. Elliot is also the founder and President of Top Notch Domains, LLC, a company that has sold seven figures worth of domain names in the last five years. Please read the DomainInvesting.com Terms of Use page for additional information about the publisher, website comment policy, disclosures, and conflicts of interest.


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Comments (14)

    Jeff Edelman

    I wouldn’t bet against him, either. And of course I’m rooting for him and the project to succeed. I’m surprised that the “cashless” world hasn’t been a little quicker to develop, but it’s coming and I think Mike’s timing will be spot on. Good luck to Mike on this venture. Will be an exciting ride for sure.

    February 14th, 2013 at 12:47 pm

    Schwartz's Anus

    More vaporware from domainers
    Straight from the school of “I’ve got a catchy name, why not try to build a business around it”
    Unfortunatey, the cart does not pull the horse…

    One thing is certain, this will not succeed

    And if he’s so rich as he makes out, why doesn’t he fund *only* $1 M from his back pocket…

    February 14th, 2013 at 1:53 pm

      Elliot Silver

      It obviously minimizes the risk and depending on who the investors are, it could bring more knowledge into the company.

      February 14th, 2013 at 1:57 pm

    Chris

    I don´t get it.

    Why would Mike Mann, the guy that publishes books about how to make millions and supposedly made millions, have to undertake a major fundraising effort to raise 1 million seed funding for his start up?

    Seriously, I don´t get that.

    I´m sure the company will be a success, though.

    February 14th, 2013 at 1:57 pm

      Elliot Silver

      He might not necessarily have to raise the money, but it helps reduce some of the financial risk. I don’t know anything about his finances, so obviously I can’t comment about that.

      February 14th, 2013 at 1:59 pm

      Chris

      I don´t use friends and family to reduce financial risk ….and I don´t think he approached anybody to ask for financial help.

      Probably wants to involve some serious investors in the future and friends and families investments build trust for that.

      On the other hand the guy probably has to pay 10 million a year just for registration fees (in 2012 he added 100.000 domains to his portfolio on a single day).

      I appreciate the thoughts you share on this blog, Eliott. I would be interested in your readers opinion on individuals owning that many domain names. Maybe for a future blog entry?

      February 14th, 2013 at 3:58 pm

    Ron

    If Mike Mann is reading this can he please stop the Phillipines call center to stop sending spam to domainers, trying to make it like Barb Seale, or whatever her name is wants to pay a fair price for your domain. They will always ask you to make an offer, and never let you request one. Check your ip’s, agreed if you are so rich, why are you trying to take wealth from working class domainers? Shameful

    February 14th, 2013 at 2:10 pm

      Elliot Silver

      Not sure what you mean about working-class domainers. I am sure Mike has friends outside the domain industry, too.

      February 14th, 2013 at 2:18 pm

      Bill Sweetman

      @ Ron, do you have proof that Mann is behind the “Barbara Seale” scam? I’d sure like to know who is behind that because she sure does get around.

      February 14th, 2013 at 8:37 pm

    Jeff Schneider

    Hello Elliot,

    It never ceases to amaze me how the greatness in some men bring out the littleness in others.

    Gratefully, Jeff Schneider (Contact Group) (Metal Tiger)

    February 14th, 2013 at 2:30 pm

    AHEAD OF TIME

    I think Cashless.com will be Mike’s most successful business
    This is going to be HUGE!!

    This guy is very smart! Never underestimate MIKE MANN

    February 14th, 2013 at 4:49 pm

    Jeff Schneider

    ” This guy is very smart! Never underestimate MIKE MANN

    He also has mastered the art of giving in order to receive. Great Domain Great Concept, should be a smash hit into the stands.

    Gratefully, Jeff Schneider (Contact Group) (Metal Tiger)

    February 14th, 2013 at 7:18 pm

    Josh

    Just speaking of the cashless society idea and where it may go. I too believe eventually we will get there but only after a massive down turn in the world, socially, financially under a dictatorship. Why..because as long as that hasn’t happened yet the CASH world we still live in makes up so much of the economy that without cash business we wouldnt have an economy..or we would but a billion people would be homeless and starving.

    February 14th, 2013 at 9:35 pm

    Michael Carter

    $1mm capital raise reminds of Dr Evil attempting to extort the United Nations for the same amount (he then raises his demand to $100bn).

    $1mm is laughably small – why bother?

    February 15th, 2013 at 10:52 am

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