Crowdfunding Platform RocketHub Acquired by Social Network EFactor

The deal valued at $15 million expands the scope of the social network EFactor by adding financing options to its

According to an official announcement on the blog section of crowdfunding platform RocketHub’s website, the company was acquired by EFactor for $15 million. The buyer is a social network specifically targeting entrepreneurs.

As part of the acquisition, RocketHub will lead EFactor’s funding division through using its “perks”-based crowdfunding platform. Users choose to provide certain “perks” to the supporters of the project when setting up their crowdfunding campaign.

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RocketHub is also active in equity-based crowdfunding and business loan products for new and emerging companies.

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RocketHub’s CEO Brian Meece, commented on the announcement, “The EFactor network, and RocketHub platform overlap in powerful ways, providing for a dynamic and impactful fundraising division.”

RocketHub was the first crowdfunding platform to partner with a major television network, A&E Networks. The multi-platform initiative, “A&E Project Startup”, focuses on supporting entrepreneurs on-air, online and through live events.

Commenting on the announcement, EFactor’s CEO, Adriaan Reiners said, “Our acquisition of RocketHub is the launching point of our ability to service entrepreneurs with needed content, education and financing options such as crowdfunding, all of which are offered by RocketHub.”

“We researched various crowdfunding companies with whom to partner, revenue share or acquire in the past year and RocketHub has distinguished itself through its level of creativity, reach, connections with major media and TV companies such as A&E, and a clear and recognizable entrepreneurial spirit,” Adriaan concluded.

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