Supporters Gather $12.7 Million in Fundraising through Equity Crowdfunding Initiative
In the bustling world of social media, an Atlanta-based startup named Fanbase is making waves by democratizing ownership and fostering economic empowerment for Black creators. The platform's current equity crowdfunding campaign, running under Regulation Crowdfunding via StartEngine, has surpassed $12.7 million as of late July 2025, moving ever closer to its $17 million goal[1][2][3].
Founded by Isaac Hayes III, Fanbase is a social media platform that sets itself apart by its commitment to fair compensation for Black creators. The platform offers an alternative to the traditional model of social media, where Black culture is often exploited without proper recognition or remuneration[2][3].
The campaign allows everyday people to invest in Fanbase for as little as $3.99, bypassing the traditional venture capital route[1]. This democratization of ownership is a significant step towards fulfilling Hayes' mission to reshape social media by enabling collective ownership and economic empowerment of creators[1][2][3].
The unique monetization system on Fanbase allows users to monetize their content, with the exception of live streams and Flickz, a short-video tool. Users can "Like" other content and "Love" it, which is worth one cent. The more Loves a user receives, the more potential income they can generate[1]. Half of the value of each Love goes to the creator, with the other half going to Fanbase[1].
Fanbase's historic fundraising journey began with Hayes raising $10 million in a previous seed round, making him the first Black man to achieve this feat via Regulation Crowdfunding[1]. The current campaign aims to scale the business in real-time and fulfill community expectations without repeated funding delays, paving a new path for funding social media startups driven by community investment rather than traditional venture capital[1][2].
Hayes emphasizes that this fundraising approach opens the door for everyday people to invest in the next generation of social apps[1]. The success of Fanbase's equity crowdfunding campaign underscores the potential for community-driven investment to reshape the social media landscape, fostering a more equitable and inclusive digital space for all.
[1] AFROTECH [2] TechCrunch [3] VentureBeat
- The democratized ownership of Fanbase, a social media platform, is made possible through equity crowdfunding, bypassing traditional routes of investment like venture capital.
- Fanbase's unique monetization system, which allows users to generate income with every "Love," encourages economic empowerment within its community, with half of the value from each "Love" going directly to creators.
- By choosing to fund Fanbase through equity crowdfunding, founder Isaac Hayes III is reshaping social media business models, creating opportunities for community-driven investment in the next generation of social apps and fostering a more equitable digital space.
