With Angel.com in hand, entertainment crowdfunding company takes off.
When Angel.com changed hands in 2021, many spectators assumed that AngelList had acquired the domain. AngelList, an ever-popular resource in the startup community, launched in 2010 using the Angel.co domain name.
Angel.com was an obvious and logical upgrade for AngelList, which had raised $26.2 million of disclosed funding at the time of Angel.com’s sale.
However, Angel.com was acquired by Angel Studios for $2 million in a deal brokered by Sedo’s Dave Evanson. The purchase, which tied for the sixth-largest publicly disclosed sale of 2021, was confirmed by Angel Studios’ co-founder, Jeffrey Harmon.
— Jeffrey Harmon (@JeffreyHarmon) April 16, 2021
Jeffrey Harmon, along with his brothers Neal and Jordan, runs Angel Studios in addition to the marketing agency Harmon Brothers. The agency was responsible for several influential marketing campaigns, including one for Purple Mattress, which acquired Purple.com for $900,000 in 2017.
Angel Studios looks to be another successful venture headed by the brothers, despite a lengthy lawsuit against the company filed by Disney and Warner Brothers that threatened the future of the company.
As a crowdfunded content platform and film studio, Angel Studios encourages creators to raise funding for movie and TV projects through its online platform.
The studio and its crowdfunding strategy seem to be a hit, with TV drama The Chosen raising $10 million through Angel’s crowdfunding platform to create its first series. Another series, Tuttle Twins, raised $4.5 million.
Angel Studios itself has also benefited from funding, with the company recently revealing that it has raised $13.5 million in equity crowdfunding, which follows on from a January 2022 venture round that saw Angel Studios raise $47 million.
Angel.com is an important focal point for Angel Studios, where visitors can watch content produced by the studio as well as invest in future projects. With the brand growing rapidly, raising a total of $65.5 million in funding in 2022 so far, the Angel.com domain is beginning to play a more influential role in the company’s fortunes by being the brand’s centerpiece.