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Social Media Personal Learning Assignment

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I snipit of what Crowdfunding is all about.

I snipit of what Crowdfunding is all about.

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  • 1. Crowdfunding
    By: Lorraine Fannon
  • 2. What is Crowd Funding?
    Also known as crowd financing, or crowd sourced capital
    It is a collective cooperation, and trust by people who pool there money and other resources together, to support efforts initiated by other people or organizations.
  • 3.
  • 4. In other Words:
    Crowdfunding is a whole bunch of people giving you a little bit of help financing your project (artists or otherwise)
    It is a form of charity or donation that uses social media, online communities, and micropayment (paypal).
  • 5.
  • 6. History:
    In 1602- VOC (Dutch East India company) was the first to offer shares, through the first stock exchange: the Amsterdam stock Exchange. They offered shares to share the financial risk of dangerous and expensive journeys to the East.
    1997-A British Rock group “Marillion” was the first to start crowdfunding in the music industry by gathered $60,000 to finance their US tour from fans.
  • 7. The oldest share in the world (1606)
  • 8. History: (cont)
    2003- ArtistShare, started formalizing “fanfunding” to let fans pre fund an album for artists.
    2004- microcredit platform KIVA opened it’s doors and is now one of the most successful crowdfunding platforms, having raise over $165 million through crowdfunding.
    2006- SellaBand copied “fundfunding” with a twist, where everyone start raising funds to record an album.
  • 9.
  • 10. Examples:
    A government that asks citizens to pay taxes is using crowdfunding model to finance public goods.
    Kickstarter
    Rockethub
    Quirky
    Fundbreak
    CatWalkGenius
    Fan Next Door
    IndieGoGo
    Cofundos
    Profounder
  • 11. References:
    Crowdsourcing.org, A History of Crowdfunding. Retrieved April 10th 2011, from http://www.crowdsourcing.org/document/a-history-of-crowdfunding/3169
    UluleVox, A brief History of Crowdfunding, Retrieved April 10th 2011, from http://vox.ulule.com/a-brief-history-crowdfunding-1-1097/
    Wikipedia The Free Encyclopedia, Crowd Funding, Retrieved April 10th 2011, from http://en.wikipedia.org/wiki/Crowd_funding

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