The Republican National Committee launched a new website, HopeIsntHiring.com, Monday morning as President Barack Obama formally announced his re-election campaign.

The site is a fundraising page from which the RNC is aiming to raise $270,000 in the three days following Obama’s announcement. It had raised $310 in the opening minutes, according to a graphic on the website.

The site features a companion video targeting Obama’s 2008 message of hope. “We need jobs, we need leadership, yet you do nothing as we pile up debts we can’t afford,” the video’s announcer says.

The fundraising campaign is part of Chairman Reince Priebus’ effort to return the RNC to respectability after donors fled during the 2010 cycle because of a perception of reckless spending and lack of leadership.

This small-donor effort comes as Priebus is reaching out to major GOP donors that will be crucial to the party’s effort to compete with Obama’s potential $1 billion campaign.