Fanbase leads the way for social media owned after more than $ 12.7 million in crowdfunding

To guarantee that black makers receive the reimbursement they earn for their influence, Atlanta in Atlanta Social Media Startup Fanbase checks milestones by raising more than $ 12.7 million in the growing crowdfunding campaign of $ 17 million shares.

In an Instagram post, founder Isaac Hayes III celebrated the move as “a part of a larger mission to democratize ownership in the social media space.” “Instead of trusting traditional risk capital, FanBase opens the door for ordinary people to invest in the next generation of social apps,” the caption is.

Hayes and his fan base group are Already used to reaching historical milestones. In 2024, according to Afrotech, The startup achieved $ 10 million from his Equity Crowdfunding -which resulted in Hayes, son of the iconic soul singer Isaac Hayes, who is the first black man to raise this amount in a seed round via Startengine under Regulation Crowdfunding. The founder says it is all in the plan. “We have a plan, and we can scale up and build the company in real time without stopping and starting and stopping and starting,” said Hayes.

“This is a chance on the scale because there are so many things that people from fan base want, and I don’t like not to be able to deliver what I want to give to the community.”

And he gives the audience the chance to step into history. In an attempt to give everyone the opportunity to add ‘investor’ to their CV, FanBase offers a chance to invest in the company at just $ 3.99. In addition to the possibility of adding to the fundraising trip, investors can be part of the community of the social media app of invested users and makers who share in the success of the platform. “I think we have a real statistics to understand the value of the black culture,” said the founder of the startup.

“Like some black culture in dollars. We have to understand that black culture is actually our ‘vibranium’, our possession. We are so creative and we don’t just have to give it away for free.”

He gives the love for black culture and the understanding of the importance of black economic cooperation for the success of FanBase. He remembers the moment he met some of the first fans of the app – Justin Dawkins, Jewel Burks and Barry Givens – founders of Colll Capital, who met Hayes for the first time on another staple of black cooperation, the gathering place. He then celebrated Angela Benton, Monique Idlett and Dawn Dixon, who taught him the art of crowdfunding and how to invest, because Dixon is the first black woman to collect a million dollars in Equity Crowdfunding for her company.

He mentioned them as his ‘mentors’ in an interview with Roll out And touched their partnership As a reflection on what the community can do. “So the black community immediately helped me to attract capital,” he said in the interview.

“That is why I always tell people how to attract capital and do the same – I always pay it ahead.”

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