RocketHub
Type of site | Crowdfunding |
---|---|
URL | rockethub |
RocketHubwas an onlinecrowdfundingplatform launched in 2010, its first use was September 1, 2009. Based inNew York City,its users included musicians,[1]entrepreneurs,[2]scientists,[3][4][5]game developers,[6][7]philanthropists,[8]filmmakers,[9]photographers,[10]theatre producers/directors,[11][12]writers,[13]and fashion designers.[14][15]Users postedfundraisingcampaigns to it to raise funds and awareness for projects and endeavors. Operating in over 190 countries, RocketHub was once considered one of America's largest crowdfunding platforms.[16]
History
[edit]Incorporatedin 2009, the platform launched by January 2012.[17]The original founders of RocketHub were Brian Meece, Jed Cohen, Alon Hillel-Tuch, and Vladimir Vukicevic.Bill ClintonandBill Gatesselected it as part of their guest-editedWays to Change the Worldedition ofWired Magazine.[18]
RocketHub was the first crowdfunding platform to partner with network television,[19]“We believe we’re the first broadcast network to start an initiative using crowdfunding to help people grow their business ideas,” Dr. Libby H. O’Connell, SVP of Corporate Outreach for A&E Networks.[20]
RocketHub engaged in a partnership with marketing agency Wieden+Kennedy and Chrysler's Dodge Dart in 2013 allowing users to crowdfund the purchase of a car. It was featured at the 2013 Cannes Film Festival, the campaign video became a Cannes Bronze Film Lion winner.[21]
On April 15, 2015, RocketHub was acquired by EFactor Group, an online resource center for entrepreneurs. The acquisition deal was valued at US$15M.
In 2018, eFactor Group shut down the RocketHub brand.
In 2022, RocketHub.com domain was acquired by Charlie Patel, CEO of the newly formed RocketHub LLC.[22]It launched as a platform for SaaS (software-as-a-service) products, WordPress plugins, and informational products. The new RocketHub entity and brand is not associated with any of the prior entities or individuals.
Crowdfunding
[edit]RocketHub enableddirect-to-fansocial media-basedoutreachandfundraising.Project leaders, i.e., fundraisers, publicize campaigns themselves throughFacebook,Twitterand similar platforms. When posting a campaign, users chose a campaign deadline, target funding-goal, and offered “perks” in exchange for contributions.[23]Broadly, RocketHub shared similarities with platforms such asKickstarter,Sellaband,andPledgemusic,[24]however if the selected funding target is not reached by the deadline, the project leader was still able to keep the collected funds. RocketHub charged 4% of funds collected, plus 4% payment processing fees, if the project is fully funded, and 8% plus 4% payment processing fees if the project does not reach its goal.[25]
JOBS Act
[edit]On April 5, 2012, PresidentObamasigned theJumpstart Our Business Startups Act (JOBS Act)into law. Among other things, the act legalizes investment inclosely held corporationsin exchange for funds from non-accredited investors.[26]In response, RocketHub published awhitepaperentitled “Regulation Of Crowdfunding” offering its perspective on how theU.S. Securities and Exchange Commissionshould regulate the industry.[27]
On June 26, 2012, Rockethub testified before Congress regarding the JOBS Act, presenting three points. They included how crowdfunding democratizes fundraising; how it will lead tojob growth;and how it empowers investors.[28]
Partnerships
[edit]RocketHub had partnered with organizations in order to educate the public about the emerging field ofcrowdfunding:
- The Recording AcademyandThe Grammy Awards- November 4, 2010 -Music Box Panel: A Professional Development Event Crowd Funding[29]
- New York City Department of Consumer Affairs and New York City Department of Cultural Affairs - October 23, 2010 -The Art of the Deal[30]
- CMJ Music Marathon,Music Dish,andWomen in Music- October 20, 2010 -The "Musicians As Entrepreneurs" Official CMJ Music Marathon Networking & Showcase Event[31]
- New Music Seminar- July 19, 2010 -NMS New York 2010[32]
- Fractured Atlas[33]
- The Orchard (company)[34]
See also
[edit]References
[edit]- ^Rice, Andrea."RocketHub: For Creatives, By Creatives",American Songwriter,June 22, 2010, accessed November 29, 2010.
- ^Maltby, Emily.“Tapping the Crowd for Funds”,The Wall Street Journal,December 8, 2010, accessed August 30, 2012.
- ^Zelnio, Kevin.“#SciFund Puts YOU in Charge of Funding Science!”,Scientific American,November 11, 2011, accessed August 30, 2012.
- ^Koerth-Baker, Maggie.“Help crowdfund scientific research!”,Boing Boing,November 1, 2011, accessed August 30, 2012.
- ^Giles, Jim.“Finding philanthropy: Like it? Pay for it”,Nature Magazine,January 18, 2012, accessed August 30, 2012.
- ^Meece, Brian."$80K in 10 Days, The Story of Extra Credits - As Told By Show Co-Creator James Portnow",RocketHub Blog,July 15, 2011, accessed August 30, 2012.
- ^Schmidt, Brandon.“Interview with Nine Dots Studio”,The Indie Mine,December 19, 2011, accessed August 30, 2012.
- ^Kempe, Anika.“Weathersby creates fund in honor of late father”,The Collegian,January 26, 2012, accessed August 30, 2012.
- ^Lungulov, Darko."Tribeca Takes: Darko Lungulov on Here and There",Tribeca Takes,May 11, 2010, accessed November 29, 2010.
- ^Hainer, Michelle."New Site Helps Cash Strapped Creatives",Tonic,June 10, 2010, accessed November 29, 2010.
- ^BWW News Desk.“The Amoralists to Present THE BAD AND THE BETTER for 6-Week Run at the Peter Jay Sharp Theater”,Broadway World,April 18, 2012, accessed August 30, 2012.
- ^Boroff, Philip."Fringe Festival Impresarios Find Angels Online With RocketHub",Bloomberg,Feb 30, 2010, accessed November 29, 2010.
- ^Paquette, Aaron."Be Part of Something Very Cool! Only You Can Make It Happen…",Aaron Paquette Network,June 24, 2012, accessed August 30, 2012.
- ^Davis, Paul./projects/656-help-paul-davis-fund-his-next-collection/ "RocketHub - Help Paul Davis Fund His Next Collection!!!" ], November 22, 2010, accessed August 30, 2012.
- ^Gabrielle."Become part of the Bunmi Koko Launch during London Fashion Week",Fashion Industry Network,September 7, 2010, accessed August 30, 2012.
- ^Mandelbaum, Robb (December 26, 2012)."RocketHub Ponders Its Future In Crowdfunding".New York Times.RetrievedJanuary 9,2017.
- ^Peter.“Alternative Marketing: 5 Best Crowdfunding Sites”,Business Advice Daily,May 13, 2012, accessed August 30, 2012.
- ^Olson, Mike.“Here’s How You Can Help Fund Sensational Research Projects”,Wired
- ^Wagner, Kurt.“Could crowdfunding produce A&E's next hit show?”,Fortune
- ^Conner, Cheryl.“Television Meets Crowdfunding: A&E Networks And RocketHub Launch 'Project Startup' For Entrepreneurs”,Forbes
- ^Macleod, Duncan.“Cannes Film Lions 2013”
- ^Patel, Charlie.[1]“RocketHub” ]
- ^RocketHub."FAQs",accessed August 30, 2012.
- ^from PRINT EDITION.Putting your money where your mouse is,The Economist,September 2, 2010, accessed November 29, 2010.
- ^"What does it cost?"
- ^Colao, J.J.“Breaking Down The JOBS Act: Inside The Bill That Would Transform American Business”,Forbes,March 21, 2012, accessed August 30, 2012.
- ^Hillel-Tuch, Alon."Regulation of Crowdfunding",May 1, 2012, accessed August 30, 2012.
- ^Hillel-Tuch, Alon."RocketHub Testifies in Congress - JOBS Act & Crowdfunding",June 27, 2012, accessed August 30, 2012.
- ^Grammy365 Staff.Music Box: A Professional Development Event Crowd Funding,Grammy365,November 5, 2010, accessed November 29, 2010.
- ^Catton, Pia.In Queens, a New Project: Learn the Art of the Deal,The Wall Street Journal,October 25, 2010, accessed November 30, 2010.
- ^Press Release.The "Musicians As Entrepreneurs" Official CMJ Music Marathon Networking & Showcase Event,Mi2N,October 6, 2010, accessed November 29, 2010.
- ^Rice, Andrea."The New Music Seminar: Viva La Revolution",American Songwriter,July 26, 2010, accessed November 29, 2010.
- ^Fractured Atlas."Fiscal Sponsorship",accessed August 30, 2012.
- ^"RocketHub Partners with The Orchard to Fuel Music Industry Marketplace",September 14, 2011, accessed August 30, 2012.