Fans of Modern Times Beer were recently given the opportunity to invest in the Point Loma-based brewery, and they jumped at it; more than 75% of the “fan equity” was reserved before their WeFunder page went live on April 22.
As of this morning, 1,679 investors had contributed $1,069,832 to Modern Times’ expansion, with the company valuing itself at $264 million. The company is 30% employee-owned through an employee stock ownership plan (ESOP).
For further analysis, see reporting by Brewbound and San Diego Reader, as well as a Reddit AMA (“Ask Me Anything”) with company founder and CEO Jacob McKean.