Launcht: Launcht's Freeman White Steps Down as CEO

Freeman White, co-founder and CEO of white label crowdfunding platform Launcht, announced earlier this month that he has stepped down from his post after four years with the company.The company's co-founder Spencer Taylor has taken over as CEO. White is moving to San Francisco-based crowdfunding companyTilt to fill a role as general manager of the Tilt/Open product.“While pretty personal, the gist is that I wanted to take better care of my family than I was able to while running my own startup,” White wrote in an email. “I have always respected Tilt, and after several conversations with the folks here, I realized this was the perfect move for the next chapter of my life.”Related:- Create the Next Big Crowdfunding Platform in a Week with Launcht - WeRaise Looks to Crowdfund Christian Charities“[Freeman] and I started the business together four years ago, and we’re all sad to see him go, but we’re excited for the opportunities for him and his family,” Taylor told Crowdsourcing.org. “And Launcht is excited to move forward, as well.”Launcht was one of the first white label crowdfunding software solutions around, helping brands and institutions raise funds and tell their stories.Since before the legislation was passed, the company was involved in JOBS Act dealings that would theoretically open up equity crowdfunding opportunities for the company.Now, Launcht will be returning to its original mission of helping foundations, educational institutions, and non-profits crowdfund their projects — as Taylor put it, “liberating capital that connects good projects with good people and makes things happen.”With Title III of the Act not yet enacted, it makes sense for the firm to return to its founding mission; Taylor said the decision to pivot back to the founding mission was made with White still on board.The new CEO acknowledged that White’s departure means more work for him and his staff, though the fact that equity crowdfunding is no longer part of the company’s offering should help to balance out the workload. For a small company like Launcht, the departure of a co-founder isn’t a small hurdle to overcome. The two co-founders shared a common vision and aspirations, though, which should make it easier for Launcht to carry on, Taylor said.Arguably the key challenge facing Launcht — and other white label platform providers — isn’t internal, but comes from larger market developments. The field is becoming more saturated, with more developers starting to offer white label crowdfunding as part of their toolkits, and with free, self-run solutions popping up.Indeed, one of the companies that’s looking to make a big impact on white label crowdfunding is Tilt. Its Tilt/Open product allows anyone to quickly and easily set up a crowdfunding page, for free (some of the more advanced features do come for a cost, though). If the company continues to improve its product to allow a deep level of customization, it could mean trouble for the more established white label crowdfunding companies.White said he believes that his old and new companies can operate without stepping on each other’s toes.“I think there can be room for both companies in this space,” he said. “We each attract the campaigns that are right for our product offerings.”Whether that turns out to be the case will become clear as the white label crowdfunding space continues to develop. For now, Taylor said his company looks forward to going back to its core mission and working through the obstacles that will present themselves following White’s departure.“We’re excited for these new changes and challenges, and for continuing to grow in what we’re passionate about.”Tags: crowd-funding, crowdfunding, launcht, tilt, white-label-crowdfundingComments