Monthly Archives: August 2013

FundingDream Aims to Reinvigorate Crowdfunding in China

FundingDream Aims to Reinvigorate Crowdfunding in China

Can a crowdfunding site succeed in China? If a new company can get the attention of a small percent of China’s more than 1.4 billion people, the impact could be huge, and the revenue even bigger. Still in private beta and launching in early December, FundingDream is an all-or-nothing setup resembling the Kickstarter model. Campaigns are funded and contributors charged only if they meet monetary goals.FundingDream will focus on socially conscious projects, businesses and charities, applying a 10% fee to collected funds (Kickstarter takes 5% of total raised funds when goals are met). Project creation or backing is open to anyone, as opposed to Kickstarter which just allows creators from the U.S.,…

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How A Crowdfunding Failure Can Have A Happy Ending

There are more tears shed over crowdfunding than there are popped champagne corks. Not everyone’s big idea can attract capital. But coming up short on the cash front doesn’t necessarily mean it’s time to toss your dreams out the window. College undergrads and twin brothers Max and Zach Zitney had an interesting idea that they felt could make a compelling product. It was a simple ring to be worn on a single finger that would vibrate and light up when you receive a phone call or notification using Bluetooth wireless technology. Called MiRing, the concept was born while the Zitney twins were members of the Business…

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Crowd called to power Hyperloop high-speed transport

Crowd called to power Hyperloop high-speed transport

SAN FRANCISCO: The Internet crowd on Thursday was called on to make real Elon Musk’s vision of a Hyperloop transport system that carries passengers in pressurized tubes at near-supersonic speeds. The Hyperloop project went live on freshly-launched crowd funding platform JumpStart Fund, which marries crowd-sourcing expertise with crowdfunding. “We believe the world is full of entrepreneurs who have great ideas but do not have the time or resources to make them a reality,” said JumpStart Fund chief executive Dirk Ahlborn. “JumpStart Fund was built for that reason alone – to provide them with a place to bring their ideas to reality.” The platform was launched…

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Kickstarter campaigns raise 6x more than Indiegogo, says researcher

Kickstarter campaigns raise 6x more than Indiegogo, says researcher

Whenever crowdfunding websites are compared, you can generally expect to see Kickstarter and Indiegogo in the same sentence. But one developer has discovered just how much better Kickstarter seems to be doing than its competition. Developer Jonathan Lau wrote a scraper to look at the crowdfunding sites’ amount of campaigns, failed campaigns, money raised, and other tidbits. Compared side by side, Kickstarter has raised over six times as much money for its campaigns than Indiegogo, he writes. That’s despite the fact that Indiegogo provides a “flexible funding” program where projects that don’t meet their funding goal can still keep pledges in exchange for paying a higher fee. When it comes to…

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How Crowdfunding Can Reduce Economic Inequality

As we celebrate the 50th anniversary of the March on Washington for Jobs and Freedom, many have expressed their opinion as to the strides made since then, and how much more work Americans have to do in realizing Martin Luther King Jr.’s dream. However, I want to reflect on the vision of A. Phillip Randolph and Bayard Rustin, who intended to focus the March on economic inequality. Randolph inspired the “Freedom Budget,” which aimed to deal with the economic problems facing the black community, particularly workers and the unemployed. As we look at the current economic conditions of New York City on the eve of…

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New Ideas in Energy Finance: Crowd Funding

From time to time I will start highlighting some groups that are finding new ways to solve some of the many energy financing challenges that we face. I will be looking at both groups that are finding ways to fill gaps as well as companies that are rethinking old approaches to energy finance. I thought I would start this series with a look at Greentown Labs, which is actually in the midst of both building a platform to fill a gap in the energy finance marketplace and exploring the use of new financing techniques, namely crowd-funding, to try and take their vision to new heights.…

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Crowdfunds pay for student’s fall tuition

Crowdfunds pay for student’s fall tuition

The future of Tessa Wilkerson’s college career depended on a website she created in 10 minutes. One month before her senior year, her college savings ran out. As a last resort, Wilkerson registered her story on a crowdfunding website called gofundme.com. She had paid her way through college since her sophomore year, when her parents cut her off financially. They refused to support her college education after she transferred to IU from Brigham Young University. Not only was it cheaper, but BYU was considered the only college option for her family, members of the Church of Jesus Christ of Latter-day Saints, Wilkerson said. “They said…

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Slava Rubin’s 4 reasons for crowdfunding (besides the money)

The UpTake: Crowdfunding isn’t all about the money. In fact, says Indiegogo CEO Slava Rubin, there are four reasons to launch a crowdfunding campaign that are more important than cash. Of course, you want to raise money when you launch a campaign on a crowdfunding site. But that’s not the best reason for doing it, says Slava Rubin, founder and CEO of Indiegogo. In fact, he said at an event hosted by the Kauffman Foundation in Kansas City today, “The money is the least valuable,” reason to launch and maintain a crowdfunding campaign. Here are four reasons more powerful than money, according to Rubin: Market…

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Crowdfunding Against Big Coal

In the age-old David vs. Goliath battle archetype, 2013’s David has a new tool: crowdfunding. This fall a small organization dedicated to engaging young people in politics, New Era Colorado, is making headlines by wielding a familiar tool on a new frontier: crowdfunding a campaign to outplay a major player in the coal industry that’s attempting to buy (another) election in the small city of Boulder, Colorado. New Era decided to up David’s chances, using a crowdfunding platform to raise resources that will allow the grassroots organization to go head to head against Goliath, which in this case is a multi-billion dollar utility giant. For…

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Final Crowdfunding Rules Not Likely Until Late 2014

Final Crowdfunding Rules Not Likely Until Late 2014

Final crowdfunding rules are not likely to be in place until late 2014 because the Financial Industry Regulatory Authority and the Securities and Exchange Commission need to take more action, according to a blog on corporate and securities regulation. TheCorporateCounsel.net blog said today that Finra still needs to create a regulatory system for funding portals and the SEC is still developing rules. “As a result, the ability to do exempt crowdfunding offerings remains limited, except that many are anticipating the ability to do more accredited investor-only crowdfunding offerings once general solicitation is permitted under Rule 506 after the September 23, 2013, effective date of those…

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Exclusive Interview: Devin Thorpe with social entrepreneur Lesley Mansford CEO of Razoo

Exclusive Interview: Devin Thorpe with social entrepreneur Lesley Mansford CEO of Razoo

Live Interview 2:00 PM PST. What is Razoo? More than a Website Razoo is a movement of people who want to make generosity a part of everyday life. Living Generously Generosity is win-win. Not only does it make the world a better place, it also makes us happy and fulfilled – especially when we give to the people and causes we care about most.   Lesley Mansford, CEO: I want to make a difference by democratizing philanthropy so that everyone can be a philanthropist. Lesley is a seasoned GM, marketer and entrepreneur with over 20 years of experience in interactive entertainment with companies like Electronic Arts.…

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Exclusive Interview: AlumVest – connecting universities with Alumni crowdfunders

Exclusive Interview: AlumVest – connecting universities with Alumni crowdfunders

Live Interview 10:00 AM PST What is AlumVest? AlumVest is a rewards and equity based crowdfunding platform that connects entrepreneurs (“Entrepreneurs”) from leading educational institutions with alumni and peer investors and supporters (“Funders”). We are launching our rewards based platform first, followed by our equity-based platform, which will initially be available to accredited investors, and subsequently will become available to unaccredited investors following regulatory changes in 2013. Why did you launch AlumVest? Our mission was born from meeting with many smart and driven entrepreneurs within our schools and alumni networks whose ideas we eagerly wanted to back and support. Our goal is to create a…

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HEADLINE NEWS

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NPRAfter Outcry, Crowdfunding Site Patreon Backs Off Plan To Raise ...NPRThe popular crowdfunding service Patreon has backed off plans to change its payment structure, after widespread, vocal and passionate opposition from creators and their fans. Last week, the site announced it woul [...]

TechCrunchHow hate speech crowdfunding outfit Hatreon crept back online ...TechCrunchIf you want to make a living creating white supremacist content, you're probably not going to do it via sites like Kickstarter and Patreon, which prohibit hate speech. Fortunately there's Ha [...]

EntrepreneurWhy Some Small Business Owners Are Turning to Crowdfunding to Save Their CompanyEntrepreneurMany owners of beloved local businesses, especially in pricier cities, have been forced to swallow their pride and appeal to their customers in times of crisis -- a process streamli [...]

CoinDeskKickstarter ICO? Don't Count On It Says Crowdfunding Leader ...CoinDeskThe company most widely associated with crowdfunding, Brooklyn-based Kickstarter, has no plans to get into the initial coin offering (ICO) business. Coming in response to the news yesterday that compet [...]

ForbesCrowdfunding Do's And Dont's From iFundWomen's Karen CahnForbesDuring our conversation, she was transparent in sharing that her first software company, VProud, failed because she “did everything backwards” and spent too much time trying to perfect the product. “Pe [...]

CryptoCoinsNewsCrowdfunding Giant Indiegogo Looks to Make ICOs MainstreamCryptoCoinsNewsCrowdfunding platform Indiegogo has a plan to help initial coin offerings (ICOs) break into the mainstream, even as the U.S. Securities and Exchange Commission (SEC) is ramping up its oversight of [...]

WRAL Tech WireBack story: How, why investor Mark Easley brought crowdfunding platform Localstake to NCWRAL Tech WireRESEARCH TRIANGLE PARK – Earlier this week, WRAL TechWire broke the news that Triangle investor and crowdfunding advocate Mark Easley was bringing Localstake, a crowdfun [...]

Crowdfunding via Customers: Is This The New Startup Capital?Customer ThinkWith more and more companies in a variety of sectors developing new crowdfunding campaigns, it makes sense to ask whether crowdfunding is likely to replace startup capital in the near future. Crowdfunding is qui [...]

TechCrunchFormer Gawker employees are crowdfunding an effort to buy Gawker.comTechCrunchWhile Univision acquired most of Gawker Media's sites last year (and renamed them as the Gizmodo Media Group), the deal didn't include Gawker itself. In fact, BuzzFeed reported last month [...]

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