Crowdfunding is about persuading individuals to each give you a small donation — $10, $50, $100, maybe more. Once you get thousands of donors, you have some serious cash on hand.
This has all become possible in recent years thanks to a proliferation of websites that allow nonprofits, artists, musicians — and yes, businesses — to raise money. This is the social media version of fundraising.
There are more than 600 crowdfunding platforms around the world, with fundraising reaching billions of dollars annually, according to the research firm Massolution. [Source]
- Go Fund Me
- Kickstarter – Kickstarter helps artists, musicians, filmmakers, designers, and other creators find the resources and support they need to make their ideas a reality. To date, tens of thousands of creative projects — big and small — have come to life with the support of the Kickstarter community.