What is crowdfunding?


Quick Answer

Crowdfunding is project funding through tapping the collective efforts of a large group of individuals and their networks using the Internet, specialized platforms and social media. Typically, individuals contribute a small amount of money in exchange for a reward or equity.

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What is crowdfunding?
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Full Answer

Some crowdfunding sites are Kickstarter, Indiegogo, RocketHub and Onevest, where entrepreneurs create profiles, pitch their projects through short videos and list the exchange for a contribution. Crowdfunding also enables project creators to increase company and website exposure, receive feedback and increase efficiency, as potential contributors can find the enterprise rather than the creator having to pursue potential patrons individually.

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