An interesting bid by crowdfunder, eRaise, is being made to collectively save Hostess. eRaise is a new crowdfunding platform that launched this year and is now using its own technology to see if the crowd will collectively assemble to save the iconic American company.
Last month, when Hostess announced its plans to liquidate the company, supermarkets were stormed and people loaded up on Twinkies, Facebook walls became debates about the current state of the economy and mourned the lost of one of the least nutritious snacks out there. And eRaise launched a campaign to solicit enough money to be able to save the brand stating that “this is not just a Twinkie, it’s a bit of American life. Twinkie, and other Hostess brands are American icons and something most of us grew up with.”
The pledge suggestion starts at $25 and goes up from there. Unlike other crowdfunding platforms, eRaise doesn’t show you how much money has been raised so far and it’s unclear how long fundraising will go on, but with liquidation plans already being discussed, one hopes that they will meet their ambitious $5M goal soon if they plan on saving the 18,000 jobs that are in jeopardy with the closing of factory doors.
What do you think about the Twinkie as an icon for American commerce? What other options are there for Hostess?