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Other Crowdfunding Sites Essay

1608 words - 7 pages

There are many crowdfunding sites available in the market today. depending on the need and the industry, there is a crowdfunding site that would fit for you.

Crowdfunding Sites
This site has a broad approach when it comes to fundraising or crowdfunding. Indiegogo caters to just about anything, from music to charities, personal financing needs and hobbies. Because of the flexibility that they allow their customers, they have garnered an international following and are now one of the leading sites for crowdfunding activities.

Kickstarter is a donation based site whose projects are more on the creative side of things. They prefer creative projects like art shows, ...view middle of the document...

This is uses the donation based model to help fund developers in creating and launching mobile application.

Somelend is a site that is focused on lending small businesses all over the US, enabling business owners have something of a debt based investment as a means of funding. This site has partnered with banks and other financial institutions so that they could provide loans to small business owners.

AngelList follows the funding investment strategy. This is for people who are looking to get a break past the Silicon Valley hype. This site links developers or tech startups that are looking for investors with institutions who would like to make investments.

For inventors, tinkerers and makers, this is the crowdfunding site for you. Quirky has an established community where it is able to connect the product to the investor. The goal of Quirky is to bring to life inventions or products. They encourage the community to participate in the overall process via donation based funding.
This site in more in the line of finding the right niche for the right person. Their general idea is that if a person or a company has the tools and he wants to finally get them off the ground, then they will be able to help you make your idea a reality.

Chapter 7:
Steps To Take To Get Started With Crowdfunding

Based on research, crowdfunding will expand in the coming years. The question is how crowdfunding can help you to raise funds and support for your projects and causes.

There are models that you could choose from when it comes to crowdfunding

Equity – for this model, you can get a fair idea by looking at reality show where businesses have investors who extend their support for the business owner for the launch of the company. In return for the investment, the investor gets a share or equity with the company.

Interest – for the interest based model, investors or backers don’t really get a share of the company. Instead they wait for the return of the initial investment that they entrusted the owner of the company. This is similar to interest banking, since it has similar parameters.
Donations – this model is patterned after the common style of fundraising as it applies to creative industries all over the world. People are encouraged to offer monetary assistance for a cause or a project.

Simple Steps in Getting Started With Crowdfunding
Choosing your model – when it comes to crowdfunding, it is important that you have an idea of what model you will use. What will work best when it comes to your project?

Pitch Your Work – make sure that you have a rock solid campaign pitch since you need to attract investors, backers and patrons to support your cause or your project. You need to sell the idea so you need a good selling pitch to catch the attention of the public.

Photos – remember that a project will have more impact if they can see the idea or the project that you are marketing. A lot of people respond...

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