Atlanta-based social media startup Fanbase has reached a significant fundraising milestone — surpassing $12.7 million in its ongoing $17 million equity crowdfunding campaign, according to an Instagram post by founder and music industry executive Isaac Hayes III.
Marking a shift in the broader tech landscape, Fanbase is bypassing traditional venture capital and turning everyday people into investors — offering the public a chance to own a piece of the platform for as little as $3.99.
After reaching its $10 million equity crowdfunding goal in 2024 — a historic achievement that reportedly made Hayes the first Black man to raise this amount in a seed round via StartEngine under Regulation Crowdfunding — Fanbase launched this new $17 million Reg A equity crowdfunding campaign, as AFROTECH™ previously reported.
“We have a plan, and we’re going to be able to scale and build the business in real time without having to stop and start and stop and start,” Hayes told AFROTECH™ Brand Manager Will Lucas on the “Black Tech Green Money” podcast. “This is a scale-up opportunity because there are so many things that people want out of Fanbase, and I myself do not like to not be able to deliver on what I want to give to the community.”
At its core, Fanbase is about ensuring Black creators receive adequate compensation for their cultural impact and influence.
By inviting the public into its fundraising journey, the social media app is building a community of invested users and creators who can share in the platform’s success.
“I think we have a real metric to understand the value of Black culture,” Hayes told AFROTECH™. “Like what Black culture converts to in dollars. We have to understand that Black culture is actually our ‘vibranium,’ our asset. We are so creative, and we shouldn’t just be giving it away for free.”
As AFROTECH™ previously told you, Hayes — the son of the legendary soul singer Isaac Hayes — founded Fanbase in 2018. While managing his late father’s estate, Hayes said he underwent a mindset shift that inspired his transition from musician to businessman.
Unlike many mainstream platforms, Fanbase launched with a clear vision to democratize ownership in social media and allows creators to fully monetize their content from day one — from video and photos to stories and long-form posts.
Hayes described this feature as a key differentiator and said it gives Fanbase a real opportunity to “lead the way in the best way to do this.”
“The fact that the African American community owns part of this company and Black culture contributes so much to social media, makes this the perfect marriage between our capital and our talent at the same time,” Hayes told AFROTECH™. “This is how the platform will continue to lift others as it climbs. I, as well as FanBase, will continue to keep in mind the community that helps it become the app that it will become.”
