The concept behind NewHive was developed in 2008 by cofounders Zach Verdin, Cara Bucciferro, Abram Clark, and Andrew Sorkin and was on-line in private beta in November 2011. Seed funding of $100,000 was obtained from private donors including SV Angel in 2012 allowing the platform to be launched in beta followed by a public launch on February 18, 2014.
