CrowdFunding in China

By Kaylene Hong, Cowdfunding is still pretty much a novelty in Asia, and in particular China. Though there are a fewhomegrown firms, the concept hasn’t really kicked off as it has in the West yet, with major sites including Kickstarter and Indiegogo still not present within the country.



E-commerce firm is therefore seeking to be a frontrunner in this space by launching its very own crowdfunding platform, called ‘Coufenzi’ (which means whip-round), as first spotted by Technode. The new platform is managed by JD Finance, which offers internet finance services for its customers.



Marking the debut of Coufenzi are 12 crowdfunding campaigns, of which seven are smart hardware products (two are seen below). This comes after recently launched a cloud platform to help manufacturers in the ‘internet of things’ sector come up with more appealing products for online shoppers, with a spokesperson revealing that it will use big data to help manufacturers understand consumers’ needs.

Screen Shot 2014 07 02 at 2.28.13 pm 730x507 Alibabas rival pushes crowdfunding in China by launching its own platform

It is indeed apt for an e-commerce firm such as JD to be behind a crowdfunding platform — as it not only lets the company gain insight into what kind of products are popular and may eventually be put up for sale on its main site, it also gives customers a chance to expose themselves to new products, or even start their own projects if they see a gap in the market.

A JD spokesperson also told TNW that the company is encouraging investors to interact with the fund-raisers, so they can use the feedback to tweak elements of their products including design and/or pricing if necessary.

After securing investment from Tencent and subsequently raising $1.78 billion in a US IPO, JD has been aggressively branching out from its core function as an e-commerce provider, seeking to compete with fierce rival Alibaba.

It remains to be seen if crowdfunding can help JD stand out, given that the donation culture in China (which is typically needed for crowd contributions) is still very nascent. However, the platform complements JD’s other offerings particularly in smart hardware, and could very well gain popularity in China before other major Western crowdfunding sites eye the Chinese market.

Headline image via PRNewsFoto


CNNMoneyDorothy's fading red slippers saved by $300000 in crowdfundingCNNMoneyThe ruby red slippers worn by Judy Garland in the beloved 1939 film "The Wizard of Oz" are set to undergo a major conservation effort following a successful crowdfunding campaign. The Smithson [...]

hypebot.comAriel Hyatt On Crowdfunding, New Book [INTERVIEW]hypebot.comArielHyattBookcaseHiRes-1-672x372 In this interview Ariel Hyatt, founder and owner of Cyber PR offers her two cents on crowdfunding and success strategies, delving into personal experience as well as offering takea [...]

AZCentral.comTiny companies lure investors under Arizona crowdfunding lawAZCentral.comWes Harrington is the founder and chief executive officer of NewSleep, a mattress manufacturer. His company has benefited from Arizona's new crowdfunding law, which allows investors to invest mo [...]

newsBTCAirbitz Launches Equity Crowdfunding Campaign To Develop New ...newsBTCAirbitz is looking to raise a minimum of US$100k during this equity crowdfunding campaign. So far, just US$2200 has been pledged.Airbitz to Leverage US JOBS Act to Raise Funding for ExpansionBitcoinist.netal [...]

BloombergCouples Desperate For Children Turn to Crowdfunding FertilityBloombergCrowdfunding has become a popular mechanism for many couples who can't afford the high costs of IVF, or adoption and surrogacy. “It's not an easy thing to share publicly,” says Crystal Barrett, 33 [...]

MarketWatchWhy a crowdfunding site is giving out $10,000 scholarships ...MarketWatchIt's another indication that families are struggling with college costs.and more » [...]

Huffington PostReal Estate Crowdfunding's Pathway of ChangeHuffington Post“Crowdfunding is just the Internet,” stated Attorney Mark Roderick as he opened last month's RealCap Chicago. RealCap is an annual conference that joins crowdfunding leaders and innovators to propel th [...]

Business Wire (press release)BizWireTV Accelerator Report: AltSchool Looks to Reinvent ...Business Wire (press release)On the latest BizWireTV Accelerator Report, AltSchool enters the next phase of its mission: to enable all children to reach their full potential.and more » [...]

Crowdfund InsiderMassive Rule 147 Amendments May Be On The Horizon Impacting ...Crowdfund InsiderAlmost a year ago, the SEC proposed certain amendments to the current Rule 147 which were intended to help foster, and increase the viability of, Intrastat.and more » [...]

Mountain XpressFaces in the crowd: WNC crowdfunding initatives | Mountain XpressMountain XpressEach week, Xpress highlights notable WNC crowdsourcing initiatives that may inspire readers to become new faces in the crowd. This week features a feature ...and more » [...]

CFB Finance

Press Release

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |