RocketHub

 ( Official Website ) 

RocketHub was an online crowdfunding platform launched in 2010, its first use was September 1, 2009. Based in New York City, its users included musicians,Rice, Andrea. "RocketHub: For Creatives, By Creatives", American Songwriter, June 22, 2010, accessed November 29, 2010. entrepreneurs,Maltby, Emily. “Tapping the Crowd for Funds”, The Wall Street Journal, December 8, 2010, accessed August 30, 2012. scientists,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. game developers,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. philanthropists,Kempe, Anika. “Weathersby creates fund in honor of late father”, The Collegian, January 26, 2012, accessed August 30, 2012. filmmakers,Lungulov, Darko. "Tribeca Takes: Darko Lungulov on Here and There", Tribeca Takes, May 11, 2010, accessed November 29, 2010. photographers,Hainer, Michelle. "New Site Helps Cash Strapped Creatives", Tonic, June 10, 2010, accessed November 29, 2010. theatre producers/directors,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. writers,Paquette, Aaron. "Be Part of Something Very Cool! Only You Can Make It Happen…", Aaron Paquette Network, June 24, 2012, accessed August 30, 2012. and fashion designers.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. Users posted fundraising campaigns 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.

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History Incorporated in 2009, the platform launched by January 2012.Peter. “Alternative Marketing: 5 Best Crowdfunding Sites”, Business Advice Daily, May 13, 2012, accessed August 30, 2012. The original founders of RocketHub were Brian Meece, Jed Cohen, Alon Hillel-Tuch, and Vladimir Vukicevic. Bill Clinton and Bill Gates selected it as part of their guest-edited Ways to Change the World edition of Wired Magazine.Olson, Mike. “Here’s How You Can Help Fund Sensational Research Projects”, Wired

RocketHub was the first crowdfunding platform to partner with network television,Wagner, Kurt. “Could crowdfunding produce A&E's next hit show?”, Fortune “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.Conner, Cheryl. “Television Meets Crowdfunding: A&E Networks And RocketHub Launch 'Project Startup' For Entrepreneurs”, Forbes

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.Macleod, Duncan. “Cannes Film Lions 2013”

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.Patel, Charlie. [20] “RocketHub”] 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.

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Crowdfunding RocketHub enabled Direct-to-Fan social media-based outreach and fundraising. Project leaders, i.e., fundraisers, publicize campaigns themselves through Facebook, Twitter and similar platforms. When posting a campaign, users chose a campaign deadline, target funding-goal, and offered “perks” in exchange for contributions.RocketHub. "FAQs", accessed August 30, 2012. Broadly, RocketHub shared similarities with platforms such as Kickstarter, Sellaband, and Pledgemusic,from PRINT EDITION. Putting your money where your mouse is, The Economist, September 2, 2010, accessed November 29, 2010. 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. "What does it cost?"

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JOBS Act On April 5, 2012, President Barack Obama signed the Jumpstart Our Business Startups Act (JOBS Act) into law. Among other things, the act legalizes investment in closely held corporations in exchange for funds from non-accredited investors.Colao, J.J. “Breaking Down The JOBS Act: Inside The Bill That Would Transform American Business”, Forbes, March 21, 2012, accessed August 30, 2012. In response, RocketHub published a whitepaper entitled “Regulation Of Crowdfunding” offering its perspective on how the U.S. Securities and Exchange Commission should regulate the industry.Hillel-Tuch, Alon. "Regulation of Crowdfunding", May 1, 2012, accessed August 30, 2012.

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 to employment; and how it empowers investors.Hillel-Tuch, Alon. "RocketHub Testifies in Congress - JOBS Act & Crowdfunding", June 27, 2012, accessed August 30, 2012.

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Partnerships RocketHub had partnered with organizations in order to educate the public about the emerging field of crowdfunding:

• The Recording Academy and The Grammy Awards - November 4, 2010 - Music Box Panel: A Professional Development Event Crowd FundingGrammy365 Staff. Music Box: A Professional Development Event Crowd Funding, Grammy365, November 5, 2010, accessed November 29, 2010.
• New York City Department of Consumer Affairs and New York City Department of Cultural Affairs - October 23, 2010 - The Art of the DealCatton, Pia. In Queens, a New Project: Learn the Art of the Deal, The Wall Street Journal, October 25, 2010, accessed November 30, 2010.
• CMJ Music Marathon, Music Dish, and Women in Music - October 20, 2010 - The "Musicians As Entrepreneurs" Official CMJ Music Marathon Networking & Showcase EventPress Release. The "Musicians As Entrepreneurs" Official CMJ Music Marathon Networking & Showcase Event, Mi2N, October 6, 2010, accessed November 29, 2010.
• New Music Seminar - July 19, 2010 - NMS New York 2010Rice, Andrea. "The New Music Seminar: Viva La Revolution", American Songwriter, July 26, 2010, accessed November 29, 2010.
• Fractured AtlasFractured Atlas. "Fiscal Sponsorship", accessed August 30, 2012.
• The Orchard (company) "RocketHub Partners with The Orchard to Fuel Music Industry Marketplace", September 14, 2011, accessed August 30, 2012.

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See also

• Comparison of crowdfunding services

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External links

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