BY Devin Thorpe, Forbes Contributor,
Crowdfunding is a genuine phenomenon. If you include—as many people do—the newly created market for “private issuers publicly raising” or PIPRs using the new SEC rules allowing general solicitation of accredited investors allowed under the 2012 JOBS Act signed by President Obama, 2014 could see over $10 billion of crowdfunded transactions. Crowdfunding is going mainstream.
Beyond scale, the impact on the economy, the venture capital industry and on entrepreneurs—especially women and minorities—is intriguing. Slava Rubin, the founder of crowdfunding giant Indiegogo, put it this way: 2013 was a banner year for crowdfunding as we saw the world grow increasingly comfortable voting with their dollar to fund what matters to them. At Indiegogo, the number of campaigns on our platform grew across industries and geographies. Since equity crowdfunding hit the national agenda two years ago, Indiegogo has grown by more than 1000%, clearly demonstrating that democratizing funding is a great thing for our economy.
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