Fundable has acquired LaunchRock

Posted Mar 15, 2014

Fundable is an equity crowdfunding service that focuses on various types of businesses, including startups. Fundable has announced recently that it has acquired LaunchRock.

LaunchRock is a service that helped startups create launch pages for acquiring users, but expanded its services to cover user acquisition. LaunchRock will continue to run as a standalone service. LaunchRock has around 10 million users that helps startups develop and launch great ideas.

The acquisition price was undisclosed, but the deal was made in a combination of cash and stock. LaunchRock has around 42 investors that are becoming investors in Fundable. The investors include 500 Startups, Trinity Ventures, and Venture51. The combined company will have 25 employees.

Fundable has helped businesses receive a total of $87 million in crowdfunding. The average raise amount is $175,000.

[Source: TechCrunch]