Crowdfunding the future of marketing

crowdbnkThey had failed to get financial backing for their high-tech smart watch, so last April the developers of the Pebble decided to made the public an offer.

Pre-order one of their yet-to-be-made watches for a reduced price, and be the first to get one. They made the offer on the crowd funding website Kickstarter. Within two hours they had reached their target of $100,000. Within a month they had raised more than $10 million dollars.

The watches are now being shipped to the 68,928 people who bought them, attracted by their ability to communicate wirelessly with smartphones, act as a remote control, a sensor and an extra display for smartphone applications.

“I quite like the idea of supporting an entrepreneur, trying to do something new,” said Andrew Bathgate, a buyer of the new watch and a crowd funding specialist at the London-based agency Good Innovation. “I felt a bit of a connection to them, it felt like something special, nice product and a nice story behind it.”

Read More at Al Jazeera

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