PROVO, Utah, Nov. 10, 2016 /PRNewswire/ -- 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.
- VidAngel stakeholders, both employees and original investors, invested over $900,000 in the Mini IPO along side customers.
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.
For more information, go to vidangel.com/invest
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.
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