Progressive Crowdfunding Site Resurrected

If you’re a newbie political candidate without party support, finding out if you can garner some traction would be helpful.

Crowdpac was a progressive political crowdfunding platform that allowed new, non-traditional candidates to test the waters to see if there might be support out there for their candidacy.

Crowdpac raised about $16 million through 2018 when it was shuttered due to a lack of operating funds.

crowdpac

According to The Hill, “Forty-six percent of the nearly 3,000 candidates who used the money raised were women, while 29 percent were millennials. Another 20 percent were veterans.”

The site has been acquired by a company called Prytany that intends to reduce its fees from 8% to 3%.

While Prytany is non-partisan, it will permit Crowdpac to retain its progress bent as it will be run by a former staffer of Sen. Ted Kennedy.

Since most of the current crop of Democratic candidates for President have renounced corporate and PAC donations, the need for a grass roots crowdfunding mechanism has become even more important.

https://thehill.com/homenews/campaign/471225-progressive-fundraising-platform-crowdpac-relaunching-after-shutting-down

About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
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