By: Bianca Buliga, Content Curator Intern To crowdfund, or not to crowdfund: that is the question. Lucky for you, you can debate the pros and cons without suffering flashbacks to high school English literature. You have likely watched “crowdfunding” become a hot topic and headline endless fundraising articles in the entrepreneurship information exchange. You may have even participated in a campaign without realizing it! But what exactly is crowdfunding and how does it work? What is Crowdfunding? It can be simply defined as the collective effort of individuals who network and pool their resources, usually via the Internet, to support efforts initiated by other people or organizations. However, those who have participated in crowdfunding understand that the process often transcends mere monetary gain. At its core, crowdfunding involves mobilizing a crowd of people that believe in something enough to assemble, creating a momentum of change-making and a web of financial reassurance. What Qualifies as Crowdfunding? While the origins of this fundraising methodology can be traced back to the late 1990s, crowdfunding did not truly take off until the launch of Kickstarter in April of 2009. To date, the Kickstarter community has helped tens of thousands of artists, musicians, filmmakers, and designers breathe life into their creative projects. In the past seven years, over 10 million people have backed a Kickstarter project, proving crowdfunding to be a legitimate and successful funding source for any and all purposes. The last time you were scrolling through your Facebook feed, you might…
Read More: How To Crowdsurf, I Mean CrowdFUND Wisely
