Ready to make a few changes to its reward-based crowdfunding platform, RocketHub announced this week that it has been acquired by entrepreneur networking site, EFactor for $15 million.
According to Entrepreneur, RocketHub, which operates in over 190 different countries and regions, will continue to exist as its own brand under the EFactor umbrella. Co-founder of the platform, Alon Hillel-Tuch revealed with the money, RocketHub will grow and add on to its existing suite of products.
“We are by no means going away. It is the entire opposite. We are actually going to be more in everybody’s faces than ever before. It’s not that RocketHub is disappearing. It’s being acquired and then basically [being] fed steroids.”
Adriaan Reinders, EFactor’s CEO, revealed in a recent statement:
“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.”
Hillel-Tuch noted that the $15 million acquisition marks a milestone for the crowdfunding industry as a whole and added:
“There is a lot of motion going on in the industry, a lot of people are figuring things out. You are finally seeing a platform become more than just a product. It’s becoming a full community with services and that’s very new in this space.”