The Power of CrowdFunding
February 20th, 2014 by
I’ve always been amazed by the power of crowd-sourced fundraising. Combined with the virility of social media, a project can get a lot of attention, which can introduce new backers and have the project funded rapidly before it’s deadline. Crowdfunding sites such as Kickstarter and Indiegogo are the most well known platforms. These sites serve as a great creative and entrepreneurial outlet that didn’t exist years ago. I’ve selected my three favorite projects below.
1. Veronica Mars Movie
As an avid viewer of Veronica Mars when I was younger, I was disappointed when the show was canceled in 2007. Studios did not want to back the project, so creator Rob Thomas and actress Kristen Bell turned to Kickstarter. They decided to revive the show in a movie format by kick starting the project on March 13, 2013. The project got so much attention from fans and media that was it fully funded by April 12, 2013! It exceeded its $2 million goal and raised over $5 million. The movie is set to premiere on March 14, 2014.
The Pebble Smartwatch is one of Kickstarter’s most successful campaign. The watch is completely customizable with its apps feature and connects with iPhone and Android smartphones via Bluetooth. Users can control music, measure their distance running or cycling, and see incoming calls with the Pebble watch. The project’s goal was set at $100,000 but ended up raising $10,266,845 with 85,000 Kickstarter backers.
3. Jamaican Bobsled Team
Who would have thought that Jamaica would have a bobsled in its tropical climate? With the Sochi 2014 Winter Olympics start date looming in the future, the Jamaican Bobsled team began to fundraise for their trip weeks prior to the opening ceremony. The team started a project on Indiegogo with a goal of $80,000 and promoted their campaign with the hashtag #CoolRunnings on social media. Their story and positive attitude have been truly inspiring.
What projects have caught your attention? Share in the comments!