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Troutman decided to tap into her social media network on Twitter and Facebook, creating a page on the crowdfunding website Indiegogo, where she could tell her more than 800 friends and followers about her goal and seek their contributions. By the end of the month, Troutman had raised $10,000.
Rewards-based crowdfunding has taken off in the last couple of years. A number of campaigns have reached million dollar goals. Pebble Time, a smartwatch that manages calls and e-mails as well as tracks one’s steps and sleep patterns, raised more than $20 million on Kickstarter with nearly 80,000 backers. Named after Martin Luther King Jr., the King Chapel on the campus of Morehouse College raised more than $5 million on IndieGoGo to help restore the building. It’s often the viral nature of a crowdfunding campaign that leads to such success.
NFL fans are willing to part with additional money in support of their favorite teams and players.
Online retailer to help entrepreneurs market and distribute orders from their crowdfunding campaigns.
LeVar Burton’s Reading Rainbow among the highest-funded Kickstarter campaigns at more than $5 million in capital raised.
