Passerby Announces Launch of Donation Crowdfunding Platform Exclusive to Film
Passerby announces launch of their film only crowdfunding platform with three films in funding.
- (1888PressRelease) May 17, 2012 - Passerby, a crowdfunding platform exclusive to film, has announced the launch of its donation platform, with three films in funding. The films are: (1) This Lovely Passing Life by filmmaker Danny Dwyer, (2) Mrs. Henderson's Cat by filmmaker Will Pellegrini and (3) Fit to Print by filmmaker Adam Chadwick. Dwyer is raising money for production while Pellegrini and Chadwick are raising finishing funds for post-production.
The filmmakers will benefit from Passerby's "pay what you choose" pricing model, a promotion available to the first 20 films to reach full funding (and potentially beyond), which allows the filmmaker to choose what percentage of the proceeds Passerby should get for their service.
In addition, Passerby continues to work toward becoming a SEC-approved funding portal. This classification will allow Passerby to offer opportunities to make equity investments in films. Passerby expects to have equity offerings on its platform at some point in 2013.
"We believe we have something unique to offer. We spent a lot of time listening to what filmmakers wanted specifically in this type of platform -- and we hope we've delivered that. We're going to try to improve it every day and hope to become a helpful resource in the filmmaking community. We'll keep listening. I'm very excited about the films that have already committed to funding with us," Passerby CEO Todd Metheny said. "I could not be prouder of all the work our team has put in."
"We get a lot of questions about whether film needs an exclusive platform in the business community, but in the filmmaking community, people get it right away. They start nodding early in the explanation. Based on the feedback we've gotten from people actually out there making films, we believe we're filling an important void," Passerby CCO Josh Clayton said.
"We built something we're proud of," VP of Product Keith Homco said. "The key now is to listen to filmmakers about how we can make it better. Our goal is to improve it every day."
Metheny and Clayton founded Passerby in January 2012. Passerby made a key acquisition in February when Homco joined the team. Passerby was recently awarded "Best 'Barely Legal' Business Plan" at Startup Weekend-St. Louis and is currently a MassChallenge semi-finalist.
Press inquiries related to Passerby should be emailed to the attention of Todd Metheny at info ( @ ) passer dot by. Filmmakers are encouraged to submit their films to http://passer.by.
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