Business Finance Suite - Crowdfunding Success

Crowdfunding is the collection of finance from backers—the “crowd”—to fund an initiative and usually occurs on the Internet platforms, also known as crowd financing and crowd sourced capital. There has been massive success worldwide for obtaining Crowdfunding. 

In 1997, fans underwrote an entire U.S. tour for the British rock group Marillion, raising $60,000 in donations by means of a fan-based internet campaign. ArtistShare based in the United States, referred to as “a pioneering crowd-financing platform”, was launched in October 2003, Kickstarter was founded in 2009 and GoFundMe was founded in 2010.

The highest reported funding by a Crowdfunded project to date is Star Citizen, an online space trading and combat video game being developed by Chris Roberts and Cloud Imperium Games. As of 10 March, 2014, they claim to have raised $40,000,000. This beats the previous record of $10,266,844 set by Pebble Watch.

On April 17, 2014, the Guardian media outlet published a list of “20 of the most significant projects” launched on the Kickstarter platform prior to the date of publication. Musician Amanda Palmer raised $1.2 million from 24,883 backers in June 2012 to make a new album and art book. American Hans Fex raised $1,226,811 from 5,030 backers in March 2014 for his “Mini Museum” project.

Writer Rob Thomas raised $5.7 million from 91,585 backers in April 2013 to create a feature film version of the defunct television series Veronica Mars. Actor, writer and director Zach Braff raised $3.1 million from 46,520 backers in May 2013 to create the feature film Wish I Was Here, which premiered at the Sundance Film Festival.

Filmmaker Spike Lee raised $1.4 million from 6,421 backers in August 2013 to make a feature film that, as of April 2014, is not titled. YouTube celebrity Freddie Wong, who owns the company RocketJump, raised $808,000 to produce the second series of the Web-based series Video Game High School. The Flint and Tinder company raised U$1.1 million from 9,226 backers in April 2013 for its “10-Year Hoodie”.

Performance artist Marina Abramovic raised $661,000 from 4,765 backers in August 2013 after paying $950,000 to buy a building that would house the “Marina Abramovic Institute“. The Kano technology company raised $1.5 million from 13,387 backers in December 2013 to create a “computer and coding kit for all ages.”

The Business Finance Suite helps you get Business Credit for your business without a personal guarantee while also helping you get approved for business loans and Build Business Credit, Business Credit Check lines.