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Isaac Hayes III Explains How Fanbase Raised $6 Million Without Venture Capita [Video]

Isaac Hayes III Explains How Fanbase Raised $6 Million Without Venture Capita

In less than three years, the Fanbase social content app has raised six million dollars (without traditional venture capital) and is inching toward the one-million user mark. How did co-founder Issac Hayes III take the app from nothing all the way to this? If you ask him, his life spent in the cut-throat music industry gave him the inspiration AND business chops to thrive within the tech space.

As the son of legendary R&B artist Isaac Hayes, he was made well aware from the get-go of the exploitative practices by record labels toward musicians. Isaac would go on to notice similar exploitation with social media giants and their users, who were creating content and driving attention, but reaping little of the billions of dollars in revenues being reported by the same corporations.

Fanbase is changing those optics. On the app, users can post content — written, photo, video, audio chat, and live stream — for a subscription fee. As Isaac sees it, “monetization for every user is the wave of the future.” For a full glimpse of how Isaac is building Fanbase into a disruptive social media force, you’ll want to tune into our interview. Here’s what we covered in the episode:

0:50 How Fanbase Raised $6 Million From Crowdfunding — Not Venture Capital
4:10 The Most Important Investors Of Fanbase
5:46 Making Investing More Accessible
8:35 How Fanbase Is Acquiring New Customers
10:36 Fanbase’s Biggest Business Advantage (Not What You Think)
12:03 “Monetization For Every User Is The Wave Of The Future”
15:08 Why Artists Shouldn’t Sell Their Catalogs
21:46 What Isaac Loves About Technology
22:59 What Does Fanbase’s Future Fundraising Timeline Look Like?
26:28 Size Of Fanbase’s Team Now & In Near-Future
27:43 Atlanta’s Underrated Scene Outside Hip-Hp
30:57 Isaac’s Inspiration For Creating Fanbase
33:23 Getting The Music Rights Back For His Dad
34:44 Keeping Black Icons Relevant Post-Death
37:15 Will There Ever Be An Isaac Hayes Movie?
44:10 Fanbase’s New Features

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