Samiksha Jaiswal (Editor)

RocketHub

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Type of site  Crowdfunding
Website  www.rockethub.com
Slogan(s)  The world's crowdfunding machine

RocketHub is an online crowdfunding platform. Users—including musicians, entrepreneurs, scientists, game developers, philanthropists, filmmakers, photographers, theatre producers/directors, writers, and fashion designers,—post fundraising campaigns to RocketHub to raise funds and awareness for projects and endeavors. RocketHub is considered one of America’s largest crowdfunding platforms.

Contents

History

Incorporated in 2009, the RocketHub platform launched by January 2010. The original founders of RocketHub are Brian Meece, Jed Cohen, Alon Hillel-Tuch, and Vladimir Vukicevic. Bill Clinton and Bill Gates selected RocketHub as part of their guest edited Ways to Change the World edition of Wired Magazine. The Company is based in New York City.

RocketHub was selected by the US Department of State as one of its 12 top global partners, alongside large corporations such as Coca-Cola. Secretary of State John Kerry provided the foreword for the report. RocketHub operates in over 190 different countries, and through its partnership with the US Department of State is the only established US crowdfunding platform able to operate and crowdfund in emerging regions across the world.

Vladimir served as the platform’s CTO until August 2014, when he joined Meural. Alon Hillel-Tuch has been Chief Technical Officer since. The current CEO is Brian Meece. Jed Cohen handles community/platform operations as COO, and Alon Hillel-Tuch is CFO and CTO.

RocketHub was the first crowdfunding platform to partner with network television, “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.

RocketHub engaged in an innovative partnership with marketing agency Wieden+Kennedy and Chrysler’s Dodge Dart in 2013 allowing users to crowdfund the purchase of a car. The partnership garnered 70 million impressions and was featured at the 2013 Cannes Film Festival, the campaign video became a Cannes Bronze Film Lion winner.

Crowdfunding

RocketHub enables 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 choose a campaign deadline, target funding-goal, and offer “perks” in exchange for contributions. Broadly, RocketHub shares similarities with platforms such as Kickstarter, Sellaband, and Pledgemusic, however if the selected funding target is not reached by the deadline, the project leader is still able to keep the collected funds. RocketHub charges 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.

JOBS Act

On April 5, 2012, President Barack Obama signed the Jumpstart Our Business Startups Act into law. Among other things, the JOBS Act legalizes investment in closely held corporations in exchange for funds from non-accredited investors. 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.

On June 26, 2012, Rockethub testified in Congress regarding the JOBS Act, presenting 3 points. They included crowdfunding democratizes fundraising; crowdfunding will lead to job growth; and crowdfunding empowers investors.

Partnerships

RocketHub has 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 Funding
  • New York City Department of Consumer Affairs and New York City Department of Cultural Affairs - October 23, 2010 - The Art of the Deal
  • CMJ Music Marathon, Music Dish, and Women in Music - October 20, 2010 - The "Musicians As Entrepreneurs" Official CMJ Music Marathon Networking & Showcase Event
  • New Music Seminar - July 19, 2010 - NMS New York 2010
  • Fractured Atlas
  • The Orchard (company)
  • References

    RocketHub Wikipedia


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