A Stock Exchange In Cyberspace?
Microbrewer Andrew Klein talks about his maxi ambitions
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Too tiny to tempt Wall Street and too tenacious to surrender to venture capitalists, Andrew Klein turned to--where else?--cyberspace. In March, his Manhattan microbrewery, Spring Street Brewing Co., completed the first-ever online public offering, raising $1.6 million. Now, Klein is forming Wit Capital Corp.--named for the Wit Beer he brews--an investment bank and World Wide Web-based stock exchange. Klein talked with Small Business Editor I. Jeanne Dugan.
Q: Spring Street began in 1992 with $500,000 raised through private placement. How did you get from there to $1.6 million?