These types of exchanges connecting companies with investors have been tried tens of times before, and they always fail because building a two-sided network is hard. People will only invest if good companies are there and good companies only show up if real money is there. Nothing I saw on the site suggested theyve solved this issue.
I'm cautiously optimistic about the Jobs Act but see so many of these platforms cropping up that seemingly don't have a solution to get quality dealflow and quality funders. The key to that IMO is not the fee structure which FundersClub spent a lot of time detailing or ease of the legal process. These are details but the key driver is getting quality startups and check writers on the platform who want to get "hitched". The legal and pricing details are next.
Lastly, the only folks really uniquely positioned to build the required two-sided network are the team at AngelList. I've not heard they're doing this but of anyone, they have the assets it seems to pull it off.