July 24, 2013 08:00 AM Eastern Daylight Time
MoolaHoop Launches Rewards-Based Crowdfunding Platform Dedicated to WomenEntrepreneurs
SAN FRANCISCO & AUSTIN, Texas--(BUSINESS WIRE)--Launching today,MoolaHoopis a rewards-based
crowdfunding platform designed to help women-owned businesses achieve financial success. Created by women to helpwomen leverage the increasing power of crowdfunding to start, build or grow their business, MoolaHoop enables femalebusiness entrepreneurs, owners and managers to garner financial support for their idea or project by leveraging theirsocial networks.MoolaHoop’s launch features theBlueAvocadoandOpen Armscampaign to fund the creation of an eco-collection of
Made in the USA reusable totes manufactured by women war survivors using reclaimed t-shirts and remnant fabrics.MoolaHoop was developed to help narrow the gap in funding available to women entrepreneurs. Women-ownedbusinesses represent almost 30% of new startups in the U.S., yet receive just 5% of all venture capital and 12% of allinstitutional debt. As a result, they are smaller from the onset and grow more slowly. Capitalizing on the explosive growthin rewards-based crowdfunding, MoolaHoop is out to change this dynamic.Austin, TX-based BlueAvocado is a women-founded, women-run, certified B Corp that has realized double-digit growththe past two years and is at a growth inflection point as consumers seek to “green” their lifestyle. To expand its productportfolio and further green its supply chain, BlueAvocado turned to MoolaHoop, allowing its customers to help them growand innovate. Through a partnership with Open Arms—a women-owned manufacturing company that employs womenrefugee survivors—BlueAvocado is using MoolaHoop to fund a new line of Made in the USA reusable bags produced fromreclaimed t-shirts and remnant fabrics and manufactured in Austin by Open Arms employees. As a result, BlueAvocadocan offer a line of Made in the USA products produced locally, and Open Arms can expand its manufacturing capacity andprovide more employment opportunities for women refugee survivors. The MoolaHoop crowdfunding platform marks the first step in the design and development of a robust ecosystem of business services, information and partnerships – the “Hoop” – to fund and provide ongoing support to womenentrepreneurs. As envisioned by company Co-Founders Brenda Bazan and Nancy Hayes, MoolaHoop will grow to offer afull suite of resources to support women-owned and -led businesses, including access to equity funding, education,mentoring and skills.In addition to the Say YES BlueAvocado/Open Arms campaign, MoolaHoop launches with a project byLive Worldlytoexpand its global fashion marketplace; a campaign to helpLife Out of the Boxgrow its line of artisan jewelry; and Tatty
Tat’sproject to enable the creation and purchase of personalized temporary tattoos from mobile devices. With newprojects posted weekly, MoolaHoop anticipates hosting more than 20 women-focused crowdfunding campaigns over thenext few months.For more information, please visitwww.moola-hoop.com.
MoolaHoop Launches Rewards-Based Crowdfunding Platform Dedicated ...http://www.businesswire.com/news/home/20130724005116/en/MoolaHo...1 of 37/24/2013 8:55 PM