Marketing Report
Social media platform Fanbase crosses $4.5m in equity crowdfunding round

Social media platform Fanbase crosses $4.5m in equity crowdfunding round

Fanbase, the ad-free social media platform that allows users to monetize their content and connect with their audience through various media features, announced that its current equity crowdfunding round has successfully crossed $4.50 million. This brings the total amount raised by Fanbase to $10 million.

This will be the third seed round for the general public to invest in Fanbase. Fanbase utilizes Startengine for Equity Crowdfunding to reinforce Fanbase's unwavering commitment to promoting equality and inclusivity in the realm of social media, especially for historically marginalized communities.

Founded by Isaac Hayes III, son of the famed Iconic Soul Icon, Isaac Hayes. Isaac's mission is to enable users to freely reach the entire social audience & democratize social media for all. That's why the company's brand promise is proudly "Be You. Without Limits." 

"Equity crowdfunding is our way of inviting the Fanbase community to own a piece of the platform they believe in. We're not just building a product; we're growing a community- driven ecosystem where every voice, every creator, and every supporter shares in our collective success, " says Isaac.

This vision underpins Fanbase's objective of empowering users and providing them with a platform where their voices can truly be heard.

Fanbase has an innovative approach to social media monetization for users. Users can engage with a range of media features, including photo/video, audio chat, live streaming, stories, short-form, and long-form video. Fanbase offers the option for users to subscribe to each other through in-app purchases, fostering creativity and enabling all users to monetize their work directly via their Fanbase profiles. Fanbase distinguishes itself through its affordability and inclusivity. The app is free to download and use, allowing anyone to create a profile, build a following, and connect with others. 

Fanbase further extends their brand promise by taking advantage of the Obama administration's passed legislation, "The JOBS Act''. This allows main street small businesses and high-growth enterprises to raise capital from retail citizen investors more efficiently. Allowing small and young firms across the country to grow and hire faster, as well as giving everyday citizens the opportunity to invest in small startups.

Equity crowdfunding provides a unique opportunity for businesses to turn their customers into owners and create a more loyal user base ready to promote the business.

Waking up every day dedicated to improving the Fanbase user experience the funds raised in this successful equity crowdfunding round will be directed towards Fanbase's expansion and development initiatives. These funds will enhance user experience, enhance creator tools, improve platform features, and expand marketing efforts to reach a wider audience.