Crowdfunding campaign for startup venture Galt.io , led by radio show host Jason Lewis, has raised over raised $100,000 in the first 90 minutes of the campaign and reached $200,000 in less than 24 hours. Galt.io will be a members only community for localized, cause based activism.
Co-founder Alex Huff stated:
“We believed Jason’s community needed a platform of their own. Rather than seeking traditional investment or using an existing crowdfunding platform, we setup our own site and reached out to the community it would serve.”
“We recognize the need for on-going funding, but this gives us a good start,” said Huff. “We believe Galt.io is one of the most successful crowd-funded campaigns to come out of Minnesota.”
The project organizers considered a Kickstarter campaign but opted out of the global platform believing the added flexibility plus their own existing community was sufficient to hit their $250,000 goal.
By crowdfunding instead of traditional investment Galt.io was able to go their own way and to prove there was interest in the idea while getting a financial commitment from the very community that will benefit most from the network at the same time.
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