Oz crowd-funding platform starts to see results

Pozible, Australia’s first and largest crowd-funding platform, has helped filmmakers raise $1.37m (A$1.3m) since its May 2010 launch, while total pledges have quadrupled in the past year.

 

“At the moment it is sustainable but not profitable,” said Rick Chen of the company that he set up with Alan Crabbe in May 2010.

Yet the potential of crowd funding, said Chen, is unlimited: “We’re still in the very beginnings of this phenomenon … I believe it’s likely that we will start to see bigger projects raising hundreds of thousands, and millions, in a short space of time.”

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