Crowdfunding - king of cash
Tuesday 7th July 2015
Crowdfunding has risen to popularity in recent years, born from the digital era of online networking and sharing.
With an ever-increasing global marketplace, entrepreneurs now have the opportunity to raise capital virtually and quickly.
Until now, the majority of projects on the platform have been business ideas or charitable endeavours, with the odd EP single or movie thrown in here or there. But now, crowdfunding has made headlines for an attempt to raise money to bail out Greece.
The campaign raised 407,715 euros before it overwhelmed the servers of the crowdfunding site, Indiegogo.
The campaign successfully collected 2million euros in just over a week, a staggering amount that, however, fell short of the 1.6 billion target. An overly ambitious campaign, perhaps, but it is big news in raising the profile of the crowdfunding phenomenon and encouraging people to use the platform creatively.
The organiser, Thom Feeney, has now set up a new page which adopts a flexible funding system that donates all money raised to a selected Greek organisation, Desmos, regardless of whether it meets its target or not
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