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Funding is the act of providing resources to finance a need, program, or project. While this is usually in the form of money, it can also take the form of effort or time from an organization or company. Generally, this word is used when a firm uses its internal reserves to satisfy its necessity for cash, while the term financing is used when the firm acquires capital from external sources.
Fan-funded music is crowdfunding for music. Often, fan-funded music occurs in conjunction with direct-to-fan marketing. Fans of music have the option to donate and collectively raise money with the goal of jump-starting the career of a given musical artist. The fan-funding of music occurs primarily through web-based services using a business model for crowdfunding. Fans are typically given rewards based on their monetary contributions.
Kickstarter is an American public benefit corporation based in Brooklyn, New York, that maintains a global crowdfunding platform focused on creativity. The company's stated mission is to "help bring creative projects to life". As of February 2023, Kickstarter has received US$7 billion in pledges from 21.7 million backers to fund 233,626 projects, such as films, music, stage shows, comics, journalism, video games, board games, technology, publishing, and food-related projects.
PledgeMusic was an online direct-to-fan music platform, launched in August 2009. It was started to facilitate musicians looking to pre-sell, market, and distribute projects; such as recordings and concerts. It bore similarities to other artist payment platforms as ArtistShare, Kickstarter, Indiegogo, Patreon, RocketHub and Sellaband.
Zequs.com is an online crowd funding platform that operates in an 'All or Nothing' method for individuals or groups to raise funds for creative projects. The site utilises social networks, with the use of social media, to help promote current projects. There are no restrictions from where those looking for funding are based. The head office is located in Queens Club, London.
Crowdfunding is a process in which individuals or groups pool money and other resources to fund projects initiated by other people or organizations "without standard financial intermediaries." Crowdfunded projects may include creative works, products, nonprofit organizations, supporting entrepreneurship, businesses, or donations for a specific purpose. Crowdfunding usually takes place via an online portal that handles the financial transactions involved and may also provide services such as media hosting, social networking, and facilitating contact with contributors. It has increased since the passage of the Jumpstart Our Business Startups (JOBS) Act.
Video game development has typically been funded by large publishing companies or are alternatively paid for mostly by the developers themselves as independent titles. Other funding may come from government incentives or from private funding.
FundRazr is a free crowdfunding and online fundraising platform released in 2009. FundRazr operates internationally in 35+ countries with the largest markets being United States, Canada, United Kingdom and Australia. It allows users to run a wide-range of crowdfunding campaigns by creating fundraising pages and sharing it via social media, messaging apps, email and more to raise money for over 100 types of causes such as nonprofit, medical care, education, community help, poverty alleviation, arts, memorials, and animal rescue causes. FundRazr also works with more than 4000 nonprofits, charities and social enterprises with an advanced fundraising toolset for free. The digital fundraising platform provides 8 different campaign types. They include microproject fundraising, peer-to-peer campaigns, wishlist campaigns, recurring donations, branded sponsorship campaigns, DIY projects, sweepstake campaigns, and storefront campaigns.
Crowdcube is a British investment crowdfunding platform, established by Darren Westlake and Luke Lang in 2011.
Experiment, formerly called Microryza, is a US website for crowdfunding science-based research projects. Researchers can post their research projects to solicit pledges. Experiment works on the all-or-nothing funding model. The backers are only charged if the research projects reach their funding target during a set time frame. In February 2014, the site changed its name from Microryza to Experiment.com.
For project funding, Citizinvestor was a civic crowdfunding website that describes itself as a "crowdfunding and civic engagement platform for local government projects on the United States."
Equity crowdfunding is the online offering of private company securities to a group of people for investment and therefore it is a part of the capital markets. Because equity crowdfunding involves investment into a commercial enterprise, it is often subject to securities and financial regulation. Equity crowdfunding is also referred to as crowdinvesting, investment crowdfunding, or crowd equity.
The House Crowd was a British peer to peer lending and crowdfunding platform that allowed people to invest in bridging loans and property development loans from £1,000. In 2018, the business achieved authorisation from the Financial Conduct Authority and launched their Innovative Finance ISA. As of January 2019, The House Crowd had funded 368 properties, raised over £93 million and paid investors returns in excess of £38 million. The House Crowd was placed into administration on 24 February 2021 and subsequently wound-up.
Fig was a crowdfunding platform for video games. It launched in August 2015. Unlike traditional crowdfunding approaches like Kickstarter, where individuals can back a project to receive rewards, Fig used a mixed model that includes individual backing and the opportunity for uncredited investors to invest as to obtain a share of future revenues for successful projects. At the end of 2017, four projects had begun generating returns, returning 245% to Fig investors.
Crowdfunding is the practice of funding a project or venture by raising money from a large number of people, typically via the internet. Crowdfunding is a form of crowdsourcing and alternative finance. In 2015, over US$34 billion was raised worldwide by crowdfunding.
Asiola is an online crowdfunding platform built to support creative and community-driven ideas in Thailand. It was launched in 2015 in Bangkok by a group of founders comprising technology experts, music industry experts and artists in response to Thailand's burgeoning startup scene. Their aim was to provide a way for fledgling ideas to gather attention and get funded.
PieShell was a crowdfunding website for food and beverage start-ups. The company was based in New York City, USA, and was launched by Cheryl Clements in October 2016.
Beesfund is a Polish equity crowdfunding platform based in Warsaw, Poland. Managed by its eponymous company founded in 2012 by entrepreneur Arkadiusz Regiec, it is one of the first crowdfunding platforms in Poland, and Central and Eastern Europe. As of May 2020, 74 public offerings (issuances) were carried out on the platform, for a total amount of PLN 47M, collected by over 48,000 registered investors.
Goteo is a crowdfunding site which focuses on projects which, apart from giving individual rewards, also generate a collective return through promoting the commons, open source code and/or free knowledge. It allows contributions in the form of monetary donations or in the form of tasks collaborating with the projects. The platform started in 2011, and is run by the Barcelona-based non-profit Goteo Foundation. According to its site statistics, as of 2023, it has raised $17 million, with a rate of project success of 83%, and a community of 185.000 users. It claims it was the first free/open source crowdfunding platform, and it tags itself as "the open source crowdfunding platform".
References
- ↑ Peoplefund.it website: How It Works
- ↑ "WeDidThis announces merger with Peoplefund.it". allaboutaudiences. 2012-03-12. Archived from the original on 2012-12-07. Retrieved 2012-09-24.
- ↑ "Peoplefund.it Grows from Green Roots". Crowdsourcing.org. 2012-01-26. Archived from the original on 2012-07-10. Retrieved 2012-09-24.
- ↑ "Nesta and Peoplefund.it". Nesta. 2012-01-01. Retrieved 2012-09-24.
