WeAre8 secured $1.2 million in media for equity from UKTV Ventures. WeAre8, a ground-breaking app built for people to reclaim their economic power and unite millions to make real-world change, is today launching a crowdfunding campaign with Crowdcube. This gives the public a chance to join a series of high-profile celebrity and institutional investors and claim a stake in the company that is reimagining social media for people and the planet.
WeAre8 ensures over 60% of all ad spend goes directly to people and causes that can drive change. “Social technology can only function effectively when the economics are benefitting the people” states Founder and CEO of WeAre8, Sue Fennessy. “We cannot ‘own our voices’ if our time and value is being sold to advertisers every day, with billionaires making billions every day and people getting nothing.”
WeAre8 has built the future of social media, and the first step is where people reclaim their economic power by watching ads for 2 minutes a day and getting valued and paid for their time. Celebrities are also bringing some of their best content to WeAre8 to inspire people with simple, fun actions to positively impact the world.
Through this innovative business model, the company sets a new standard by democratising digital advertising, putting people and the planet - not tech companies - at the economic centre of the multi-billion-dollar digital ad ecosystem. The app and its mission to help solve the world’s biggest issues and give back to people has celebrity investors including Clare Balding and Rio Ferdinand, and has partnered with a number of other high-profile talent, from rugby union player Ugo Monye and Strictly dancer AJ Pritchard, to actor and model Harrison Osterfield.
As well as Crowdcube, we can confirm new investors into the Series B round. UKTV Ventures, a multi-million pound investment fund by commercial broadcaster UKTV, whose parent company is BBC Studios, offers high-growth startups an opportunity to enter the TV advertising market in exchange for a minority stake in the company. It is investing $1.2 million in advertising airtime that will be delivered over UKTV’s seven television channels (Dave, W, Gold, Alibi, Drama, Yesterday, Eden).
