Fanbase, the subscription-based social platform that empowers creators to monetize their content and grow their fanbase, is on the verge of closing its seed round, already raising $3.1 million dollars on StartEngine as of today and has already seen rapid growth with a 750% revenue increase in May alone. Founded by serial entrepreneur Isaac Hayes III, the platform has attracted high-profile artists and creators to the growing community, including Snoop Dogg, Charlamagne Tha God, Kandi Burruss, YBN Almighty Jay, Watch Jazzy, Chamillionaire, PJ Morton, Roland Martin, No I.D., and Girvan “Fly” Henry, among others.
Fanbase is a photo, video, audio chat, live streaming and long-form content app that lets any user post to followers for free but also earn revenue by posting exclusive content for subscribers and with virtual currency they call “Love.” Fanbase has witnessed 40% month over month growth in 2021. Non-celebrity, top revenue makers for April alone averaged over $1,200 in revenue just by using the app.
“Equity opportunity to users is a fundamental piece missing in every current social platform today,” said Isaac Hayes III, founder and CEO, Fanbase. “With such committed support and positive reception to our model, we’ve already exceeded our investment expectations and recently made funding adjustments to allow future investment opportunities.”
Fanbase offers a $3.99 monthly subscription to each user you choose to subscribe to for access to their exclusive content. The platform is designed to be a supportive environment for every user. The app also uses “Love” virtual currency. Each “Love” given is equal to half a penny to the user, to show their appreciation for a creator’s content. A popular feature of Fanbase is its drop-in audio chat rooms which have cultivated 2.5 million minutes of direct voice conversations across 5,000 rooms in the app in April alone. Also, users averaged approximately 55 minutes of engagement a day as compared to other platforms that average under 50 minutes a day.
To propel Fanbase’s growth, the platform is now accessible in the U.K., Canada and Australia.
About Fanbase:
Founded in 2018 by entrepreneur Isaac Hayes III, Fanbase is the subscription-based social platform that empowers creators to monetize their content and grow their fanbase. Rooted in community, Fanbase is the first native app with full content monetization, including audio rooms. Gamification features such as virtual currency — “Love” — enable fans to reward their favorite creators. The combined monthly subscription fee and virtual currency revenue model offers a gateway for users to unlock exclusive content. The social platform is compatible with IOS and available in the U.S., U.K., Canada and Australia. For more information, visit https://www.fanbase.app.
