Fanbase, the ad-free social media platform that enables users to monetize their content and interact with their audience via a variety of media features, has announced that its current equity crowdfunding round has successfully surpassed $4.50 million. This increases Fanbase’s total fundraising to $10 million.

This will be Fanbase’s third seed round open to the broader public. Fanbase utilizes Startengine for Equity Crowdfunding to reinforce Fanbase’s unwavering commitment to promoting equality and inclusivity in the social media sphere, particularly for historically marginalized communities.

Isaac Hayes III, son of the legendary soul icon Isaac Hayes, was the original founder of the band. Isaac’s purpose is to democratize social media and make it accessible to everyone by making it possible for users to freely reach the full social audience. Because of this, the slogan “Be You. Without Limits” serves as the brand promise for the organization.

Ishmael Hayes III stated “Equity crowdfunding is our way of enabling the Fanbase community to own a piece of the platform they believe in,” the Fanbase team explained in a recent blog post. We are not simply developing a product; rather, we are cultivating a community-driven ecosystem in which every supporter, every contributor, and every voice contributes to our overall success.       

This vision serves as the foundation for Fanbase’s goal of empowering users and providing them with a platform on which their views may be heard in an authentic manner.

Fanbase takes an original solution to the problem of monetizing social media for its customers. Users have access to a variety of interactive media capabilities, such as photo and video sharing, audio chat, live streaming, story telling, and short-form and long-form video content. Through in-app purchases, users of Fanbase have the ability to subscribe to other users, which not only encourages and supports creative expression but also makes it possible for all users to directly monetise their work through their Fanbase profiles. The accessibility and low cost of Fanbase are two of the company’s defining characteristics. It is possible for anyone to create a profile, grow a following, and communicate with others through the app, which may be downloaded and used without cost.

By taking advantage of the recently enacted law known as “The JOBS Act,” Fanbase is able to further expand the brand promise they have established for themselves. As a result of this, high-growth companies and small firms on main streets are able to more effectively solicit financial backing from individual retail investors. Making it easier for new and young businesses all throughout the country to expand and hire new employees, as well as providing regular people with the opportunity to invest in new and emerging businesses.

Equity crowdfunding presents a one-of-a-kind opportunity for businesses, allowing them to transform their clients into owners and cultivate a more devoted user base that is prepared to advocate for the company.

The funds raised through this successful equity crowdfunding campaign will be allocated towards Fanbase’s expansion and development projects. Fanbase’s founders get up every day with the goal of providing users with an even better experience on the platform. This money will improve the creator tools, user experience, and platform features, as well as extend marketing efforts to reach a larger audience.

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