Isaac Hayes III, the son of the legendary R&B musician Isaac Hayes, is making innovative waves as an entrepreneur with his new app, Fanbase.
With a voice similar to his father’s and a background in music production and voice-over work, Hayes has now embarked on the world of technology.
Fanbase is a multi-functional app that allows users to monetize their content through photo, video, audio chat, live streaming, and more. Unlike other Black-owned businesses in the tech industry that struggle to attract big-money investors, Hayes took a different approach. Instead of seeking large investments, he raised over $3.5 million through small donations, with prominent investors including Snoop Dogg, Charlamagne Tha God, and Kandi Burruss. His unique funding method permitted Hayes to maintain his ownership and control of the business.
The inspiration for Fanbase came when Hayes noticed the lack of compensation for social media users who put a lot of time and effort into creating content. He wanted to create a platform that would enable every user to monetize their work.
Seeing a viral video of a young creator dancing in a Spider-Man costume, Hayes realized that while the creator couldn’t monetize the character, he could monetize his dancing. This sparked the idea for Fanbase, where users could support content creators by donating money through the platform’s subscription store.
Despite being referred to as a “Black Clubhouse” by critics, Hayes highlights that Fanbase is not exclusively a Black social media platform. He sees it as a platform for everyone, comparable to Twitter, Instagram, and Snapchat.
Since the start of the venture in late 2019, Fanbase has grown to nearly 50,000 users and currently holds a valuation of $23.5 million. Hayes’ goal is to reshape the social media landscape and ensure that users receive fair compensation for their creative efforts. With the support of his investors and the growing user base, Fanbase has the potential to become a significant player in the social media industry.