Record-Setting Mini IPO Brings in over $10 Million from Customers as VidAngel Readies for November 14th Preliminary Injunction Hearing
As the Disney v. VidAngel case moves into the courtroom, the entertainment filtering service receives overwhelming support from leaders, grassroots supporters, and customers, and is prepared to defend the rights of parents all the way to the Supreme Court
(Provo, UT—November 10, 2016) VidAngel, the market-leading entertainment platform empowering users to filter language, nudity, violence, and other content from movies and TV shows, has gained massive support from national nonprofit leaders, prominent pastors, and grassroots customers alike as the company prepares for a preliminary injunction hearing currently scheduled for November 14, 2016. Disney—along with Warner Bros, 20th Century Fox, and Lucasfilm—has taken legal action in an effort to undercut the 2005 Family Movie Act and prevent VidAngel from lawfully empowering parents and families to filter content on modern devices in their homes.
With less than one week until its hearing, VidAngel is releasing new information which details the mass popular support the company has received in the months since the lawsuit was announced.
VidAngel’s CEO Neal Harmon commented:
“VidAngel isn’t just a company, it’s become a movement.
“The outpouring of support we’ve received since the lawsuit was announced is unprecedented. We have been privileged to have the vocal support of nationally respected non-profit, faith, and business leaders, and we’ve seen massive grassroots assistance from everyday Americans.
“Customers have donated to our legal defense fund, started, signed, and shared online petitions, written letters, bought #SaveFiltering T-shirts, and invested in our company. In fact, during VidAngel’s recent Mini IPO, we earned more financial support than any startup of its kind in modern history.
“Our passionate fans are singularly committed to preserving the fundamental right to filter movies, that’s why they are standing with us in this fight. No matter what the Court decides next Monday, we are fully prepared, willing, and able to take this case all the way to the Supreme Court.”
VidAngel raised over over $5 million in just 28 hours from 3,783 customers, making it the fastest Regulation A+ offering to reach its minimum threshold in U.S. history. In the end, the company raised over $10 million before it closed the limited offering. VidAngel accomplished this under Regulation A+ (Title IV of the JOBS Act of 2012), which became possible just last year, allowing companies that qualify with the Securities and Exchange Commission to raise money from the general public. Prior to Regulation A+, investment in early stage companies was limited mostly to accredited investors, defined as individuals with a net worth over $1 million.
Final VidAngel Mini IPO Results
- 7,553 customers invested in VidAngel’s Mini IPO.
- $10,123,986 was the total raised in the Mini IPO.
Leaders Publicly Standing with VidAngel
- Tim Winter, President, Parents Television Council
- Patrick A Trueman, President & CEO, National Center on Sexual Exploitation
- L. Brent Bozell, President, Media Research Center
- Andrea Lafferty, President, Traditional Values Coalition
- Bob Waliszewski, Director, Focus on the Family’s Plugged In
- Donna Rice Hughes, President, Enough is Enough
- Gary Bauer, President, American Values
- George Roller, Ambassador, Center for Christian Statesmanship
- Harry Jackson, Bishop of the International Communion of Evangelical Churches
- Matt Kibbe, Chief Community Organizer, Free the People
- Gary Marx, President, Madison Strategies
- Rebecca Hagelin, Author and Family Expert
- David Bozell, President, For America
- Tim Wildmon, President, American Family Association
- Bryan and Diane Schwartz, Founders, Family Goals
- Ted Baehr, Publisher of Movieguide and Chairman of the Christian Film and Television Commission
- David Barton, Founder and President, Wallbuilders
- Rick Green, Host, Wallbuilders Live Radio
- Tim Barton, Chief Operating Officer, Wallbuilders
- Connor Boyack, President, Libertas Institute
- Pastor Jim Garlow, Senior Pastor, Skyline Church
- Josh McDowell, Author and Speaker, Campus Crusade for Christ
- Keith McMullin, CEO, Deseret Management Corporation
Grassroots Support for VidAngel
- Over 8,000 customers have written letters to the Court, explaining why movie filtering is important to their families.
- Over 16,000 customers have sent emails in support of VidAngel.
- Nearly 40,000 customers donated to VidAngel’s legal defense fund.
- Nearly 50,000 supporters have signed the petition at SaveFiltering.com.
- More than 20,000 have signed the petition started by Enough is Enough.
VidAngel is the market-leading entertainment platform empowering users to filter language, nudity, violence, and other content from movies and TV shows. VidAngel’s success has been well documented, earning a #1 BestCompany.com user rating and making VidAngel one of the fastest growing entertainment companies in the U.S.