BY PUNIT ARORA , While crowdfunding is older than the Statue of Liberty in New York — which incidentally needed crowdfunding from the American and French people — the advent of web 2.0 and internet-mediated platforms has caused crowdfunding to gain a lot of traction in the last few years.
Industry estimates indicate that crowdfunding platforms such as Kickstarter and IndieGoGo funded over a million projects with more than $2.7 billion in 2012, an increase of 81 percent over 2011. The most successful examples of crowdfunding ventures include video game Star Citizen, smartphone Ubuntu Edge and smartwatch Pebble.
If you are considering joining the ranks of these successful crowdfunded ventures, here are 10 fun facts to consider.
1. Kickstarter may be the most prominent crowdfunding platform, but it is not the only game in town. There are more than 100 online platforms that bring together entrepreneurs and consumer-investors for projects that need funding. In addition to other broad-based platforms such as IndieGoGo, CrowdFunder, RocketHub, FundAnything and GoGetFunding, there are several specialized sites that focus on niche groups. For example, Amsterdam-based SellaBand enables artists to raise funds from music lovers, Kiva for lending to entrepreneurs in developing countries and CrowdBaron for real estate investments in Asia.
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