Raise More Money With Crowdfunding Sites
Crowdfunding, also called crowd funding or crowd financing, is a relatively new concept that uses the collective effort of the “crowd” to acquire “funding” for an organization or project. Its most popular uses include raising money for disaster relief, citizen journalism, musicians and artists, political campaigns, scientific research, software development and startup companies. Typically, crowdfunding is accomplished via the Internet, and a number of crowdfunding sites have been established for this purpose.
The first crowdfunding site was Kickstarter. It allows creators of things like video games, magazines and other products to raise money for a set period of time. If the project isn’t fully funded by its deadline, however, the entrepreneur does not receive any money. Crowdfunder and WeFunder use a comparable system. The website Crowdtilt has a different purpose, but uses a similar concept. They focus on “groupfunding,” and allow for private projects among people who know each other. For instance, you and your friends could use Crowdtilt to save money for an upcoming vacation, or to go in together on a wedding gift. Whether you need to finance your own project, want to contribute to someone else’s, or simply need to save up for a big expense, crowdfunding sites are the perfect way to raise money.