All for one and one for all
What if Brian Chesky had let early users invest in Airbnb? Fairmint is asking the question with their launch today.
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Coda first launched to be #1 Product of the Day five years ago. Today it's a community favorite workspace tool, valued at over $1.4B with 25K teams using it.
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After a beta phase of dogfooding and raising $7.4 million with its own product, Fairmint officially introduced its tech stack that lets startups grant equity in their business to anyone.
“Imagine if Travis Kalanick, early days at Uber, had had Fairmint and offered $UBER to his 1st drivers…” Fairmint co-founder Joris Delanoue speculated. “How many lives would have been changed? We believe in social capitalism, in community ownership.” It’s an interesting hypothetical considering that gig economy companies are consistently under pressure to do more for those that drive their ecosystem.
Fairmint’s solution lets makers “launch in minutes” — smack an “Invest” button on your site and start raising from biggest fans whether that’s VCs, employees, or users. That’s a much quicker route to the capital that makers need to improve their products than traditional fundraising. Makers in the Product Hunt community are taking notice.
Transactions are also programmable; i.e. equity is coded into smart contracts on the blockchain. Fairmint says this removes the gatekeepers and decentralizes investment. Is this the kind of real-life application Web3 critics are looking for? Start-ups have raised over $20M from their communities so far on Fairmint – would you consider opening up equity to your community?
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