This Japanese startup now lets anyone hold a personal IPO

(Sept 21): Nuko Numano is a cosplayer in Japan who regularly hosts livestreams for her fans, but only to a select few who own five of her shares priced at US$38 ($51) apiece. That seems like a bargain, considering they were trading for as much as US$585 in July.

The 23-year-old, who dresses up as anime characters and bunny girls, is one of 60,000-plus users on a Japanese startup called Valu Inc., a cross between a trading platform and crowdfunding site. “I plan to use the funds to buy expensive clothes that I couldn’t afford before, and enter international cosplay events,” said Numano, which isn’t her real name.

Anyone -- from fishermen and YouTube celebrities to pastry chefs and social-media mavens -- can sell shares to raise funds in a manner similar to an initial public offering. They attract buyers by offering gifts and services; for example, a blogger may offer exclusive posts that can only be viewed by shareholders, or a cosplayer may share signed photos.

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