Meta tags:

Headings (most frequently used words):

campaigns, for, crowdfunding, the, benefits, and, risks, based, prize, crowdfunder, to, creator, investor, contents, history, types, role, platforms, significant, applications, see, also, references, further, reading, external, links, reward, draw, equity, digital, security, debt, litigation, donation, uk, draws, win, tickets, glastonbury, festival, statue, of, liberty, early, highest, grossing, kickstarter, third, parties, philanthropy, civic, projects, real, estate, intellectual, property, exposure, science, journalism, press, international, development, legal, developments, iran, barriers, issues, in, medical,

Text of the page (most frequently used words):
the (612), crowdfunding (288), and (270), for (174), from (89), retrieved (88), that (78), with (66), are (62), may (59), #funding (50), projects (48), 2016 (44), their (44), investors (44), platforms (44), edit (44), 2012 (44), june (43), based (41), archived (40), 2015 (38), which (38), was (37), 2014 (37), campaign (37), raised (37), public (35), doi (35), equity (34), software (32), project (32), also (32), not (32), can (31), 2013 (31), new (30), this (29), 000 (29), fund (28), capital (28), journal (28), original (28), social (27), companies (26), money (26), april (26), more (26), support (25), have (25), has (25), funds (24), october (23), business (23), online (23), platform (23), january (23), 2026 (22), investment (22), crowd (22), kickstarter (22), such (22), science (21), september (21), than (21), campaigns (21), they (21), march (20), july (20), venture (20), early (20), through (20), financial (19), community (19), 2017 (19), 2018 (19), research (19), december (19), real (19), offering (18), 2021 (18), peer (18), medical (18), august (18), estate (18), film (18), united (17), market (17), there (17), s2cid (17), information (17), million (17), glastonbury (17), 2019 (16), funded (16), pdf (16), crowdfunder (16), many (16), individuals (15), people (15), help (15), value (15), world (15), some (15), benefits (15), act (15), allows (15), fundraising (14), company (14), com (14), 2011 (14), into (14), donors (14), about (13), list (13), organizations (13), lending (13), 2024 (13), november (13), small (13), journalism (13), but (13), over (13), prize (13), traditional (13), who (13), use (12), internet (12), open (12), private (12), donation (12), his (12), raise (12), been (12), you (11), non (11), 2025 (11), free (11), digital (11), model (11), charity (11), one (11), media (11), individual (11), 100 (11), risk (11), crowdfunded (11), cite (11), potential (11), create (11), part (11), these (11), sites (11), organization (10), all (10), finance (10), other (10), product (10), christian (10), high (10), development (10), financing (10), investor (10), history (10), 2020 (10), success (10), civic (10), february (10), times (10), get (10), out (10), fans (10), festival (10), without (10), draw (10), like (10), reward (10), backers (10), used (10), creators (10), billion (10), funders (10), were (10), license (9), wayback (9), society (9), international (9), source (9), sharing (9), investing (9), network (9), system (9), report (9), sec (9), arts (9), its (9), how (9), could (9), 2009 (9), role (9), between (9), donations (9), due (9), however (9), make (9), when (9), number (9), creator (9), published (9), significant (9), creative (8), page (8), category (8), only (8), states (8), management (8), sector (8), charitable (8), donor (8), benefit (8), further (8), types (8), post (8), services (8), industry (8), 2010 (8), machine (8), 1016 (8), issn (8), good (8), news (8), costs (8), property (8), time (8), record (8), band (8), statue (8), provide (8), risks (8), would (8), being (8), via (8), first (8), total (8), tickets (8), rewards (8), wikipedia (7), service (7), what (7), nonprofit (7), alternative (7), debt (7), interest (7), startup (7), growth (7), professional (7), economy (7), exchange (7), crowdsourcing (7), book (7), europe (7), audience (7), recording (7), paper (7), causes (7), humanitarian (7), pmid (7), catalini (7), economics (7), products (7), rule (7), cancer (7), become (7), group (7), innovative (7), draws (7), blender (7), where (7), british (7), highest (7), generally (7), access (7), offer (7), idea (7), while (7), allow (7), toggle (6), available (6), articles (6), limited (6), links (6), content (6), 2022 (6), protection (6), pre (6), give (6), club (6), related (6), family (6), series (6), two (6), signal (6), securities (6), review (6), 1177 (6), rise (6), case (6), personal (6), decisions (6), bridport (6), spot (6), scientific (6), future (6), intellectual (6), 2008 (6), reach (6), show (6), amount (6), see (6), p2p (6), customers (6), music (6), liberty (6), higher (6), shares (6), before (6), often (6), several (6), businesses (6), consumers (6), state (6), created (6), include (6), general (6), journalists (6), work (6), including (6), goal (6), search (5), privacy (5), under (5), additional (5), terms (5), foundation (5), copy (5), distribution (5), release (5), retail (5), commercial (5), giving (5), wall (5), barriers (5), donate (5), association (5), main (5), firms (5), institutional (5), fee (5), partnership (5), angel (5), concepts (5), marketing (5), tech (5), global (5), comparison (5), cooperative (5), indiegogo (5), article (5), working (5), seeking (5), care (5), stories (5), america (5), special (5), way (5), agrawal (5), ajay (5), goldfarb (5), avi (5), entrepreneurs (5), requires (5), developing (5), william (5), here (5), 139 (5), brown (5), emerging (5), credit (5), london (5), need (5), raises (5), england (5), most (5), known (5), marillion (5), third (5), effect (5), does (5), hdl (5), will (5), nesta (5), initial (5), members (5), during (5), issues (5), healthcare (5), 167 (5), those (5), large (5), countries (5), stage (5), both (5), invest (5), process (5), same (5), supporters (5), production (5), feedback (5), groups (5), involved (5), section (5), raising (5), exemption (5), allowed (5), place (5), jobs (5), called (5), since (5), various (5), emerged (5), launched (5), kingdom (5), cause (5), desire (5), contents (4), view (4), legal (4), policy (4), using (4), commons (4), link (4), pages (4), geographic (4), subscription (4), title (4), references (4), technology (4), systems (4), org (4), data (4), control (4), term (4), file (4), methods (4), matching (4), ethics (4), philanthropy (4), impact (4), pledge (4), seed (4), buyout (4), uber (4), california (4), ridesharing (4), york (4), gig (4), sellaband (4), rock (4), middle (4), school (4), kiva (4), gofundme (4), ideas (4), succeed (4), failure (4), vol (4), expenses (4), guide (4), law (4), 3386 (4), syndicates (4), advocates (4), networks (4), street (4), amanda (4), palmer (4), her (4), means (4), gov (4), intrastate (4), bank (4), theatre (4), backed (4), olivia (4), colman (4), prince (4), village (4), pub (4), computer (4), independent (4), simon (4), 978 (4), isbn (4), making (4), innovation (4), trends (4), simple (4), required (4), masters (4), launches (4), films (4), crowdfund (4), your (4), issue (4), bbc (4), guardian (4), movie (4), behind (4), set (4), now (4), festivals (4), charities (4), reaches (4), web (4), don (4), entrepreneur (4), litigation (4), launch (4), offerings (4), start (4), trend (4), 2002 (4), 1997 (4), cambridge (4), centre (4), successful (4), efforts (4), failing (4), diligence (4), asymmetry (4), allowing (4), consumer (4), participation (4), because (4), directly (4), well (4), returns (4), rather (4), single (4), substantial (4), seen (4), likely (4), among (4), necessary (4), successfully (4), popularity (4), increase (4), american (4), gave (4), percent (4), low (4), traditionally (4), loans (4), friends (4), additionally (4), another (4), identified (4), initiators (4), following (4), believe (4), 147 (4), became (4), sold (4), accredited (4), examples (4), worldwide (4), although (4), wales (4), reporters (4), them (4), participate (4), donating (4), security (4), once (4), form (4), applications (4), years (4), founded (4), initiatives (4), date (4), publication (4), pairs (4), providing (4), hide (4), move (4), sidebar (4), subsection (4), topic (3), table (3), apply (3), site (3), registered (3), profit (3), wikimedia (3), inc (3), categories (3), wikidata (3), cs1 (3), lacking (3), short (3), payment (3), national (3), models (3), grant (3), voluntary (3), analysis (3), corporation (3), trust (3), practice (3), ipo (3), call (3), banks (3), publicly (3), valuation (3), buy (3), sell (3), drivers (3), strikes (3), berlin (3), workers (3), india (3), app (3), marketplace (3), tool (3), library (3), things (3), home (3), return (3), change (3), direct (3), east (3), supply (3), backerkit (3), artistshare (3), geography (3), mollick (3), office (3), coordination (3), affairs (3), socioeconomic (3), young (3), ethical (3), medicine (3), laundering (3), compliance (3), entrepreneurial (3), distance (3), 1111 (3), strategy (3), albini (3), play (3), www (3), regulation (3), rescue (3), 1080 (3), journalistic (3), wired (3), stock (3), commerce (3), huffington (3), off (3), alexander (3), facebook (3), spanner (3), rules (3), techcrunch (3), startups (3), flow (3), mystery (3), theater (3), 3000 (3), breaks (3), variety (3), cooler (3), match (3), sport (3), game (3), electric (3), eel (3), shock (3), established (3), 2004 (3), rob (3), joseph (3), heart (3), selfstarter (3), must (3), 115 (3), 1721 (3), better (3), mainstream (3), automated (3), blockchain (3), tokens (3), heritage (3), bodies (3), websites (3), oxford (3), university (3), press (3), 1999 (3), 1992 (3), tour (3), generated (3), comte (3), quackery (3), 141 (3), sustainability (3), buying (3), fan (3), video (3), conflict (3), reduce (3), 165 (3), institutions (3), outcomes (3), ability (3), typically (3), after (3), quality (3), lead (3), 160 (3), even (3), current (3), sense (3), 500 (3), investments (3), progress (3), lack (3), story (3), engage (3), reputation (3), studies (3), come (3), find (3), around (3), increased (3), positive (3), audiences (3), particularly (3), requirements (3), example (3), per (3), sources (3), appropriate (3), developments (3), notes (3), donated (3), award (3), dating (3), toward (3), enough (3), travel (3), readers (3), share (3), contributors (3), major (3), reported (3), bonds (3), scientists (3), own (3), supported (3), build (3), 125 (3), led (3), city (3), council (3), microcredit (3), artists (3), range (3), existing (3), base (3), parties (3), went (3), entries (3), matched (3), war (3), unlike (3), subscribers (3), started (3), distributed (3), north (3), win (3), construction (3), contributions (3), location (3), presence (3), monetary (3), initiative (3), collective (3), effort (3), together (3), 2006 (3), borrowers (3), decentralized (3), account (3), precursor (3), tools (3), add (2), languages (2), mobile (2), statistics (2), developers (2), conduct (2), contact (2), agree (2), trademark (2), hidden (2), centric (2), maint (2), reliable (2), description (2), entrepreneurship (2), collaborative (2), 2000s (2), republic (2), france (2), patent (2), copyright (2), rights (2), publisher (2), long (2), life (2), potentially (2), pay (2), want (2), compensation (2), warm (2), sick (2), foundations (2), away (2), shop (2), effective (2), altruism (2), intent (2), topics (2), cost (2), effectiveness (2), virtue (2), religious (2), year (2), preference (2), leverage (2), structure (2), net (2), worth (2), round (2), recapitalization (2), leveraged (2), agreement (2), homestay (2), marketplaces (2), lyft (2), flight (2), bill (2), owners (2), alliance (2), transport (2), sided (2), worker (2), customer (2), swap (2), hospitality (2), carsharing (2), banking (2), youcaring (2), trillion (2), sponsume (2), rockethub (2), usa (2), bir (2), spacehive (2), microventures (2), globalgiving (2), experiment (2), external (2), ante (2), oct (2), ethan (2), dynamics (2), nations (2), emergencies (2), citizenship (2), profitable (2), reading (2), cheng (2), inequality (2), 130 (2), michael (2), jama (2), 1136 (2), health (2), crisis (2), socscimed (2), pmc (2), 109 (2), canadian (2), portal (2), crime (2), 113 (2), economic (2), 001 (2), 274 (2), 154926205 (2), 1530 (2), 9134 (2), jems (2), 12093 (2), 253 (2), timing (2), reasons (2), isn (2), pressure (2), daniel (2), steve (2), forum (2), acar (2), oguz (2), dahl (2), darren (2), fuchs (2), christoph (2), schreier (2), martin (2), 661 (2), 0022 (2), 2437 (2), 00222437211012451 (2), 644 (2), exemptions (2), entity (2), issuers (2), 506 (2), roof (2), morning (2), advertiser (2), donates (2), 155 (2), mediated (2), communication (2), going (2), legacy (2), freelance (2), objectivity (2), mike (2), selling (2), 1086 (2), follow (2), realities (2), smartcrowd (2), makes (2), best (2), moves (2), beyond (2), washington (2), fundrise (2), assessing (2), suitability (2), daily (2), cure (2), pioneering (2), microfinance (2), sourcing (2), brand (2), just (2), erik (2), tim (2), los (2), angeles (2), cfo (2), groupon (2), note (2), approach (2), why (2), records (2), episodes (2), critical (2), animated (2), veronica (2), mars (2), hours (2), zach (2), braff (2), addresses (2), wish (2), coolest (2), mayor (2), getting (2), movement (2), chris (2), half (2), built (2), faq (2), sound (2), 1996 (2), ir35 (2), pioneered (2), gleasure (2), feller (2), markets (2), 2023 (2), top (2), choose (2), 116 (2), 169 (2), three (2), 1108 (2), standard (2), claim (2), annual (2), matthew (2), updated (2), brief (2), ian (2), ethereum (2), dao (2), currency (2), attracted (2), capitalist (2), tapscott (2), portfolio (2), 128 (2), coin (2), insight (2), 2569988 (2), ssrn (2), transforming (2), combine (2), earliest (2), पब्लिकेशन (2), turn (2), art (2), cultural (2), subscribe (2), period (2), minimum (2), membership (2), chicago (2), tribune (2), vegan (2), 2001 (2), k3829 (2), bmj (2), 127 (2), 117 (2), 101 (2), definition (2), judge (2), encyclopedia (2), threshold (2), participatory (2), games (2), patient (2), financially (2), claims (2), instance (2), associated (2), amounts (2), reached (2), received (2), might (2), 168 (2), commented (2), politicians (2), facing (2), relief (2), lot (2), problems (2), try (2), mitigate (2), crowds (2), focus (2), every (2), reduces (2), doing (2), regulated (2), attractive (2), creating (2), mean (2), larger (2), assets (2), reports (2), ups (2), determine (2), leads (2), likewise (2), manage (2), interested (2), sometimes (2), easier (2), abuse (2), concern (2), scam (2), barrier (2), engagement (2), producers (2), details (2), concerns (2), stages (2), themselves (2), goals (2), generate (2), unable (2), comes (2), contains (2), proponents (2), outcome (2), response (2), said (2), bands (2), resource (2), concept (2), 153 (2), obtain (2), produce (2), prediction (2), ventures (2), capitalists (2), opportunity (2), provides (2), features (2), strong (2), 150 (2), profile (2), issued (2), iran (2), solicitation (2), activities (2), therefore (2), adopted (2), removed (2), restrictions (2), offered (2), takes (2), governments (2), congress (2), advertise (2), learn (2), talk (2), primarily (2), represent (2), opportunities (2), developed (2), economies (2), talent (2), name (2), semington (2), reopen (2), somerset (2), arms (2), wiltshire (2), had (2), closed (2), month (2), academy (2), winning (2), actress (2), save (2), lyric (2), dorset (2), grade (2), listed (2), building (2), 1746 (2), describing (2), truly (2), particular (2), website (2), overall (2), factor (2), 140 (2), order (2), print (2), publications (2), deciding (2), done (2), culture (2), found (2), rates (2), strongly (2), options (2), broader (2), 135 (2), founder (2), asked (2), exposure (2), towards (2), residential (2), pooling (2), distressed (2), mortgages (2), similar (2), earlier (2), kind (2), proposed (2), branded (2), receive (2), dedicated (2), publishing (2), users (2), income (2), initiated (2), person (2), usually (2), stated (2), much (2), tap (2), mechanism (2), 108 (2), receives (2), end (2), fastest (2), until (2), 103 (2), live (2), director (2), potato (2), salad (2), attention (2), pounds (2), run (2), today (2), musician (2), album (2), ran (2), affected (2), 639 (2), 720 (2), bringing (2), 279 (2), 440 (2), second (2), 929 (2), 480 (2), médecins (2), sans (2), frontières (2), child (2), oxfam (2), red (2), cross (2), few (2), hosted (2), combat (2), grossing (2), later (2), feature (2), five (2), freelancers (2), threatened (2), government (2), complete (2), pedestal (2), pulitzer (2), simultaneously (2), saved (2), newspaper (2), 250 (2), each (2), 1885 (2), needed (2), relatively (2), recipient (2), seek (2), important (2), anywhere (2), made (2), met (2), greater (2), taking (2), percentage (2), intermediaries (2), globally (2), rounds (2), basis (2), payoff (2), helps (2), expectations (2), oriented (2), contribute (2), communities (2), purposes (2), fraudulent (2), 2005 (2), rate (2), loan (2), lent (2), token (2), itself (2), participants (2), legislation (2), pool (2), option (2), wider (2), involves (2), majority (2), shows (2), wide (2), gained (2), phenomenon (2), collecting (2), confidence (2), modern (2), philosopher (2), 1850 (2), auguste (2), events (2), appearance (2), upload (2), changes (2), read (2), english (2), bahasa (2), log (2), menu (2), cookie, statement, code, safety, contacts, disclaimers, text, attribution, sharealike, rendered, parsoid, last, edited, utc, existent, country, scope, containing, errors, missing, periodical, webarchive, template, numeric, formatnum, arguments, mdy, dates, different, terminology, neologisms, https, index, php, oldid, 1378649275, yale, lux, israel, latvia, czech, bnf, gnd, authority, databases, domain, proprietary, freely, redistributable, torrent, poisoning, server, key, activation, manager, dongle, vaporware, maintainer, maintenance, abandonware, cycle, shovelware, scareware, worm, trojan, horse, spyware, ransomware, infostealer, malware, unwanted, program, deceptive, illicit, sneakernet, bundling, installed, premises, delivery, shareware, core, donationware, careware, greenware, freeware, freemium, crippleware, adware, permissive, floating, licensing, licenses, glow, kindness, volunteer, visiting, telethon, master, wealthiest, psychological, earning, advised, drive, click, thrift, fraud, caffè, sospeso, concert, greatnonprofits, multiplier, givewell, distributional, charitywatch, navigator, assessment, candid, animal, evaluators, aid, evaluation, zakat, sadaqah, tzedakah, tithe, dāna, christianity, religion, enterprise, governmental, mutual, volunteering, humanity, empathy, compassion, alms, practices, vintage, undercapitalization, taxation, hedge, sweat, pme, liquidation, irr, yield, envy, ratio, ebitda, waterfall, commitment, cap, aum, sovereign, wealth, offices, merchant, endowments, insurance, pension, corporations, spac, pipe, traded, carried, liability, stealth, safe, incubator, dividend, divisional, sponsor, 2020s, 2010s, 1990s, 1980s, nav, secondaries, mezzanine, multi, level, farm, stay, enshittification, big, wimdu, vrbo, misterb, hipcamp, guestready, airbnb, 9flats, wingly, files, aslam, eats, controversies, careshare, motivate, ride, blablacar, legality, jurisdiction, assembly, proposition, gorillas, nigeria, hailing, taxi, rideshare, indian, federation, unions, labor, freelancer, capitalism, olio, streetbank, freecycle, craigslist, renting, showers, servas, pasporta, servo, homeexchange, helpx, dachgeber, couchsurfing, wiki, upcycling, scooter, reuse, intentional, garden, consumption, living, clothing, circular, carpool, decentralization, borrowing, center, bookcase, swapping, bicycle, barter, processes, utip, trustleaf, tilt, tenpages, teeth, pledgemusic, pieshell, patch, land, offbeatr, neighborly, mobcaster, lone, junction, ioby, investedin, bankers, house, hopemob, hatreon, fundly, funding4learning, fundageek, fondomat, crowdfundedu, confidentcrowd, citizinvestor, bountysource, blackstartup, beacon, reader, asiola, defunct, ourcrowd, headstart, targeting, turkey, kreosus, silgi, kalem, zinsland, wiseed, wecity, ulule, tipeee, symbid, steady, startnext, signmyrocket, sharethemeal, seedups, seedrs, raizers, planeta, cinema, mymajorcompany, miimosa, liberapay, lendosphere, lendopolis, invesdor, innovestment, idonate, hooandja, goteo, fundedbyme, exporo, eureeca, enerfip, edaid, digventures, crowdestate, crowdcube, companisto, bondora, betterplace, bergfürst, beesfund, anaxago, wadiz, venturecrowd, qingsongchou, pozible, pledgeme, musicbee, birchal, alphacrowd, asia, pacific, wefunder, wedidit, watsi, seedinvest, spark, prizeo, piggybackr, patreon, launchgood, groundfloor, givesendgo, fundrazr, fig, fanfix, equitynet, energyfunders, donorsee, donorbox, crowdrise, crowdpac, crowdjustice, classy, circleup, engine, partners, angellist, americas, steven, bradford, federal, laws, institute, european, ebay, examines, fail, determinants, ren, yifei, paradox, era, 2057150x241230163, chinese, sociology, scheinberg, 1624, 28334321, 1001, 3078, 1623, 317, dressler, gabrielle, kelly, sarah, implications, charlie, gard, 457, 19118282, 29728452, medethics, 104717, 453, jeffrey, huffpost, inside, berliner, lauren, kenworthy, nora, producing, worthy, illness, amidst, 242, 28274601, 008, 233, 187, sisler, e124, 22231688, 3273528, 1503, cmaj, 4084, e123, 184, robock, zachary, fighting, 166276044, 36639, mbelr, michigan, habib, ahsan, certified, specialists, acfcs, contributor, unorthodox, definitely, maybe, hui, xiang, 229298169, w24777, bureau, kang, jiang, tan, remarkable, investigation, 336, 348, caldbeck, ryan, alpha, mims, christopher, journaldate, cracked, jenna, wortham, puts, isenberg, harvard, road, hell, bogle, ariel, abc, electrical, audio, wants, gigaom, 234803364, canada, context, digiato, فعالیت, سکوی, تأمین, مالی, جمعی, آغاز, commission, jian, lian, usher, nikki, 170, jcc4, 12051, inspires, chapters, playbook, aitamurto, tanja, 445, 54194660, 17512786, 551018, 429, hunter, andrea, negotiating, norms, autonomy, 288, 21039809, 1461444814558915, 272, schaefer, 514, 27647666, 6041758, 0963662516668771, 496, understanding, nayanah, siva, 9948, 39664203, 25247220, s0140, 6736, 61661, 1085, 384, lancet, picks, pace, neel, patel, sauermann, henry, franzoni, chiara, shafi, kourosh, 158632668, w24402, gorbis, marina, schuster, 4516, 4118, nature, dispatches, socialstructed, magazine, inventors, digest, drummond, rain, entrenching, pwc, arabian, uae, insider, devenir, secteur, poids, image, turns, ruth, eliot, trinkets, connell, jonathan, faces, skeptical, davis, cartwright, 5518, baumaninstitute, leeds, telegraph, really, investigates, wellcome, mosaic, plutocratic, proposal, prime, minister, hails, yurieff, kaya, secondact, bell, melissa, accessed, suisse, financialist, hollywood, names, jens, gould, kappel, 376, loyola, entertainment, wsj, emily, chasan, mini, disclosure, regime, prentice, claire, cash, strapped, grow, aiming, lets, ground, style, dell, kristina, helen, pidd, teenagers, clovis, dardentor, idio, gadget, emanuella, grinberg, cnn, revival, hughes, mst3k, secures, spangler, todd, tops, mcmillan, graeme, 1059, 1028, backlash, gertjan, menten, econible, dawes, terry, cantech, letter, pimped, break, techdirt, goes, wild, dredge, stuart, biggest, hits, sets, md2636, forward, baker, dropped, 77m, guy, buggy, bulkley, kate, documentaries, happening, becomes, artist, gourlay, dom, drowned

Text of the page (random words):
een used primarily for charitable fundraising combining the incentive of a high value prize with the goal of raising funds for a cause in the united kingdom crowdfunder has hosted several significant prize draw campaigns glastonbury festival ran prize draws on the platform in 2024 and 2025 offering tickets to the sold out festival in exchange for 10 40 equity edit equity crowdfunding is the collective effort of individuals to support efforts initiated by other people or organizations through the provision of finance in the form of equity 41 in the united states legislation that is mentioned in the 2012 jobs act will allow for a wider pool of small investors with fewer restrictions following the implementation of the act 42 unlike non equity crowdfunding equity crowdfunding contains heightened information asymmetries the creator must not only produce the product for which they are raising capital but also create equity through the construction of a company 16 equity crowdfunding unlike donation and rewards based crowdfunding involves the offer of securities which include the potential for a return on investment syndicates which involve many investors following the strategy of a single lead investor can be effective in reducing information asymmetry and in avoiding the outcome of market failure associated with equity crowdfunding 43 contributors may act as investors and receive shares directly or the crowdfunding service may act as a nominated agent 44 equity crowdfunding helps the 90 percent of businesses that were left out in the cold by traditional funding methods which is why it has become such a viable option for business startups 33 equity based funding is illegal in many countries such as india in the united states the jobs act of 2012 regulated the trend this legislation was intended to increase access to capital for the innovative companies in need of investment capital and allows a pool of small investors to come together 33 the regulation was updated in 2021 by the sec allowing companies to raise to 5 million per year from unaccredited investors and allowing investors to invest more 45 digital security edit another kind of crowdfunding is to raise funds for a project where a digital security is offered as a reward to funders which is known as initial coin offering abbreviated to ico 46 some value tokens are endogenously created by particular open decentralized networks that are used to incentivize client computers of the network to expend scarce computer resources on maintaining the protocol network these value tokens may or may not exist at the time of the crowdsale and may require substantial development effort and eventual software release before the token is live and establishes a market value although funds may be raised simply for the value token itself funds raised on blockchain based crowdfunding can also represent equity bonds or even market maker seats of governance for the entity being funded 47 examples of such crowd sales are augur decentralized distributed prediction market software which raised us 4 million from more than 3500 participants 47 ethereum blockchain and the decentralized autonomous organization 48 49 50 51 debt based edit see also peer to peer lending debt based crowdfunding also known as peer to peer p2p marketplace lending or crowdlending arose with the founding of zopa in the uk in 2005 52 and in the us in 2006 with the launches of lending club and prosper com 53 borrowers apply online generally for free and their application is reviewed and verified by an automated system which also determines the borrower s credit risk and interest rate investors buy securities in a fund that makes loans to individual borrowers or bundles of borrowers investors make money from interest on the unsecured loans the system operators make money by taking a percentage of the loan and a loan servicing fee 53 in 2009 institutional investors entered the p2p lending arena for example in 2013 google invested 125 million in lending club 53 in 2014 in the us p2p lending totaled about 5 billion 54 in 2014 in the uk p2p platforms lent businesses 749 million a growth of 250 from 2012 to 2014 and lent retail customers 547 million a growth of 108 from 2012 to 2014 55 23 in both countries in 2014 about 75 of all the money transferred through crowdfunding went through p2p platforms 54 lending club went public in december 2014 at a valuation around 9 billion 53 litigation edit litigation crowdfunding allows plaintiffs or defendants to reach out to hundreds of their peers simultaneously in a semi private and confidential manner to obtain funding either seeking donations or providing a reward in return for funding it also allows investors to purchase a stake in a claim they have funded which may allow them to get back more than their investment if the case succeeds the reward is based on the compensation received by the litigant at the end of his or her case known as a contingent fee in the united states a success fee in the united kingdom or a pactum de quota litis in many civil law systems 56 lexshares is a platform that allows accredited investors to invest in lawsuits 57 if the claimant wins investors may get more than their initial investment 58 donation based edit donation based crowdfunding is the collective effort of individuals to help charitable causes 59 60 in donation based crowdfunding funds are raised for religious social environmental or other purposes 61 donors come together to create an online community around a common cause to help fund services and programs to combat a variety of issues including healthcare 62 and community development 63 the major aspect of donor based crowdfunding is that there is no reward for donating rather it is based on the donor s altruistic reasoning 64 ethical concerns have been raised about the increasing popularity of donation based crowdfunding which can be affected by fraudulent campaigns and privacy issues 65 role edit the inputs of the individuals in the crowd trigger the crowdfunding process and influence the ultimate value of the offerings or outcomes of the process individuals act as agents of the offering selecting and promoting the projects in which they believe they sometimes play a donor role oriented towards providing help on social projects in some cases they become shareholders and contribute to the development and growth of the offering individuals disseminate information about projects they support in their online communities generating further support promoters the motivation for consumer participation stems from the feeling of being at least partly responsible for the success of other people s initiatives desire for patronage striving to be a part of a communal social initiative desire for social participation and seeking a payoff from monetary contributions desire for investment 6 additionally individuals participate in crowdfunding to see new products before the public early access often allows funders to participate more directly in the development of the product crowdfunding is also particularly attractive to funders who are family and friends of a creator it helps to mediate the terms of their financial agreement and manage each group s expectations for the project 16 an individual who takes part in crowdfunding initiatives tends to have several distinct traits innovative orientation which stimulates the desire to try new modes of interacting with firms and other consumers social identification with the content cause or project selected for funding which sparks the desire to be a part of the initiative and monetary exploitation which motivates the individual to participate by expecting a payoff 6 crowdfunding platforms are motivated to generate income by drawing worthwhile projects and generous funders these sites also seek widespread public attention for their projects and platforms 16 crowdfunding websites helped companies and individuals worldwide raise us 89 million from members of the public in 2010 1 47 billion in 2011 and 2 66 billion in 2012 1 6 billion of the 2012 amount was raised in north america 66 crowdfunding is expected to reach us 1 trillion in 2025 67 a may 2014 report released by the united kingdom based the crowdfunding centre and titled the state of the crowdfunding nation presented data showing that during march 2014 more than us 60 000 were raised on an hourly basis via global crowdfunding initiatives also during this period 442 crowdfunding campaigns were launched globally on a daily basis 34 the future growth potential of crowdfunding platforms also depends on their financing volume with venture capital between january 2017 and april 2020 globally 99 venture capital financing rounds for crowdfunding platforms took place with more than half a billion usd of total money raised the median amount per venture capital financing rounds for crowdfunding was 5 million in the u s and 1 5 million in europe between january 2017 and april 2020 68 platforms edit in 2015 it was predicted that over 2 000 crowdfunding sites would be available to choose from in 2016 69 as of 2021 there are 1 478 crowdfunding organizations in the us crunchbase 2021 70 as of january 2021 kickstarter has raised more than 5 6 billion spread over 197 425 projects 71 crowdfunding platforms have differences in the services they provide and the type of projects they support 6 curated crowdfunding platforms serve as network orchestrators by curating the offerings that are allowed on the platform they create the necessary organizational systems and conditions for resource integration among other players to take place 6 relational mediators act as an intermediary between supply and demand they replace traditional intermediaries such as traditional record companies and venture capitalists these platforms link new artists designers and project initiators with committed supporters who believe in the people behind the projects strongly enough to provide monetary support 16 in response to arbitrary crowdfunding curation on existing platforms an open source alternative called selfstarter 72 emerged in late 2012 from the project lockitron after it was rejected from kickstarter 73 while selfstarter required the creators of the project to set up hosting and payment processing it proved that projects could successfully crowdfund without middlemen taking a significant percentage of the money raised online crowdfunding donors differ from traditional fundraising donors in that donors give anonymously do not have a connection to the recipient and may seek out a cause or recipient to give to 74 another important factor is that online donors are not limited by their geographic location and can give to individuals or organizations anywhere in the world once a fundraiser is created individuals can share the details anywhere to attract donors and gather funds for their cause when it comes to motives donations are made to individuals to help them reach a goal and typically drop off once that is met however donations to organizations are made for a greater societal good 74 the demographics of online donors vary from traditional donors as online donors tend to be younger and give larger gifts than traditional donors 75 this is important for online campaign organizers to note as they determine their target audience however those over 50 have increased their social media usage and have a presence on facebook 75 more research is needed in regard to the topic of crowdfunding in general there are benefits to online crowdfunding as it has the ability to tap into audiences that are not close in geographic proximity to an individual or organization and to increase awareness about a campaign however with relatively low funding success rates reported social networking and traditional approaches to fundraising may be complements to help individuals and organizations raise funds but not a replacement 75 significant campaigns edit crowdfunder uk prize draws to win tickets to glastonbury festival edit since 2024 glastonbury festival has run annual prize draws on the crowdfunder platform offering tickets to raise funds for humanitarian causes in march 2024 a draw offering 20 pairs of tickets to the sold out 2024 festival raised 639 720 from public entries glastonbury festival matched the total bringing the combined sum to 1 279 440 for the british red cross oxfam and war child 76 77 in 2025 a second draw offering 25 pairs of tickets raised a further 929 480 for médecins sans frontières again with glastonbury matching the total raised 78 crowdfunding for statue of liberty edit in the summer of 1885 crowdfunding averted a crisis that threatened the completion of the statue of liberty construction of the statue s pedestal stalled due to a lack of financing fundraising efforts for the project fell short of the necessary amount by more than a third new york governor grover cleveland refused to appropriate city funds for the project and congress could not agree on a funding package recognizing the social and symbolic significance of the statue publisher joseph pulitzer launched a five month fundraising campaign in his newspaper the world the paper solicited contributions by publishing articles that appealed to the emotions of new yorkers donations of all sizes poured in ranging from 0 15 to 250 more than 160 000 people across america gave including businessmen waiters children and politicians the paper chronicled each donation published letters from contributors on the front page and kept a running tally of funds raised the campaign raised over 100 000 roughly 2 million today allowing the city to complete construction of the pedestal pulitzer and the world simultaneously saved the statue of liberty and gave birth to crowdfunding in american politics early campaigns edit marillion started crowdfunding in 1997 fans of the british rock band raised 60 000 39 000 via the internet to help finance a north american tour 79 18 the professional contractors group a trade body representing freelancers in the uk raised 100 000 over two weeks in 1999 80 from some 2 000 freelancers threatened by a government measure known as ir35 in 2003 jazz composer maria schneider musician launched the first crowdfunding campaign on artistshare for a new recording 81 the recording was funded by her fans and became the first recording in history to win a grammy award without being available in retail stores oliver twisted erik estrada karen black was an early crowdfunded film 82 subscribers of the blue sheet formed the florida film investment co ffi in january 1995 and started selling shares of stock at 10 a share to fund the 80 000 100 000 film the movie was filmed in oct 1996 the film was distributed by rgh lion s shares pictures 83 in 2004 electric eel shock a japanese rock band raised 10 000 from 100 fans the samurai 100 by offering them a lifetime membership on the band s guestlist 84 two years later they became the fastest ban...