Fanbase, founded in 2018 by Isaac Hayes III, is rapidly climbing the charts in the App Store.
The Atlanta, GA-based social media company allows users to not only create content but also get paid through various mediums, including video, photos, audio, and stories, its website mentions. Additionally, through subscriptions valued from $2.99 to $99.99, users can further support creators in exchange for exclusive content.
“For people who value content and community, Fanbase is a free-to-download, free-to-use, next-generation social network that allows any user to earn money from day one,” the company website reads.
Moreover, users not only have a chance to participate in Fanbase but can also opt-in to become an investor. For a minimum amount of $399, users make an investment that will be “speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.”
“I’m the only Black-founded start-up social media app that’s currently in existence that was founded for the entire planet, but it’s Black-owned in infrastructure and ownership,” Hayes said on the “Black Tech Green Money” podcast.
Fanbase is currently growing in popularity as TikTok’s potential ban on Jan. 19, 2025 nears. As previously reported by AFROTECH™, the Chinese-based company ByteDance must sell TikTok to a U.S.-based company for the app to continue operating in the United States.
Many users are migrating to other platforms, propelling Fanbase to the 16th spot among free applications on the App Store.
“We’re #6 on the Apple App Store for social media, #16 overall on the entire App Store, and #12 on the Google Play Store for social media,” Hayes wrote on LinkedIn.
Fanbase has seen traction in funding, with $5,203,103 raised (at the time of this writing).
“Instead of being customers to our creations, we are turning our innovations into acquisitions, and therefore, that is my pitch to tell people that, ‘Look. Facebook and Instagram are not going to be, and TikTok is not going to be the king of the hill. There’s no business that has existed that has lasted and dominated in perpetuity. Everything goes down,'” he also said on the podcast.
