Who would have thought that a start-up that is geared towards raising money using the crowd for funding other start-ups and events would become so successful?
Kickstarter epitomizes the crowd-funding phenomenon that is helping start-ups bypass the traditional world of venture funding and go directly to users. Other than raising money, Kickstarter provides the opportunity for start-ups to get validity; if users want to drop dollars on your start-up they will also be interested in your service right?
Here’s how it works. A start-up puts out a poster talking about how much funding it needs, and by when it needs it. Users who believe that the start-up has a recipe for success chip in with how much they can. There is a clock ticking with a deadline by which they need to raise the cash.
Kickstarter has become very successful at helping start-ups raise funds Eric Migicovsky for example wanted to raise $100,000 for his Pebble watch. He ended up raising $7.8 million!
Kickstarter maybe the poster child for crowdfunding, but they are not alone, other crowd-funding platforms include Indiegogo, Crowdfunder and Fundable.
Top Tech Stories of the Year
Crowdfunding comes of age
Trudging through the trail of 2012 tech stories and yanking out the best was an onerous task. After much scrutiny, we have unearthed the absolute best.By Nelson Moses | Yahoo! India News – Mon 26 Nov, 2012
From shaking up the very foundations of the Indian government to stirring up unseemly controversies, from showing incredible courage in the face of extreme adversities to losing a reputation built over years of hard work in just a blink of an eye, from setting the electoral hustings afire with golden speeches to getting into trouble for not speaking at all, there were many 'newsmakers' in 2012 who caught the common man's imagination. Some made it for stellar reasons, others for all there is wrong with the society. Here are 12 'newsmakers' that deserve a mention. More »
Trying to pick twelve travel destinations in India is a little like choosing the twelve best feathers on a peacock’s train, but pick we must. The most dramatic phenomenon we’ve observed in 2012 is the rising number of Indians choosing their own country for a great holiday. At one end of the spectrum, they are hitchhiking and backpacking. At the other they are patronising the most luxurious hotels and resorts once reserved for tourists brandishing wads of foreign exchange. Keen to experiment, they are experiencing everything from scuba-diving to cycling. Many are taking to wildlife and landscape photography with a passion. Here’s our selection of the 12 most captivating Indian holiday destinations of 2012. Feel free to argue but, most importantly, get up and pack! More »
It was an eventful year in the world of finance and business, one that actively involved all three actors: the government, people and even the common man. From violent employee agitations to controversial reform proposals and volatile economic indicators, we compile the twelve defining news events of 2012. More »