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Crowdfunding,[object Object],By: Lorraine Fannon,[object Object]
What is Crowd Funding?,[object Object],Also known as crowd financing, or crowd sourced capital,[object Object],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.,[object Object]
Social Media Personal Learning Assignment
In other Words:,[object Object],Crowdfunding is a whole bunch of people giving you a little bit of help financing your project (artists or otherwise),[object Object],It is a form of charity or donation that uses social media, online communities, and micropayment (paypal).,[object Object]
Social Media Personal Learning Assignment
History:,[object Object],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.,[object Object],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.,[object Object]
The oldest share in the world (1606),[object Object]
History: (cont),[object Object],2003- ArtistShare, started formalizing “fanfunding” to let fans pre fund an album for artists.,[object Object],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.,[object Object],2006- SellaBand copied “fundfunding” with a twist, where everyone start raising funds to record an album.,[object Object]
Social Media Personal Learning Assignment
Examples:,[object Object],A government that asks citizens to pay taxes is using crowdfunding model to finance public goods.,[object Object],Kickstarter,[object Object],Rockethub,[object Object],Quirky,[object Object],Fundbreak,[object Object],CatWalkGenius,[object Object],Fan Next Door,[object Object],IndieGoGo,[object Object],Cofundos,[object Object],Profounder ,[object Object]
References:,[object Object],Crowdsourcing.org, A History of Crowdfunding. Retrieved April 10th 2011, from http://www.crowdsourcing.org/document/a-history-of-crowdfunding/3169,[object Object],UluleVox, A brief History of Crowdfunding, Retrieved April 10th 2011, from http://vox.ulule.com/a-brief-history-crowdfunding-1-1097/,[object Object],Wikipedia The Free Encyclopedia, Crowd Funding, Retrieved April 10th 2011, from http://en.wikipedia.org/wiki/Crowd_funding,[object Object]

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Social Media Personal Learning Assignment

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