Crowdtilt, the crowdfunding platform that prides itself on allowing people to group fund anything they love, has unveiled a new feature – Sliding Costs – which now enables real-time tracking and adjustment of per-person contributions in fixed-cost crowdfunding efforts.
With this application update, now when people are supporting a crowdfunding effort on Crowdtilt to reach a set price the platform instantly updates, lowers and displays per-person costs as the group grows. This new feature makes it easier and more engaging than ever for friends, co-workers and businesses to divvy up costs evenly.
“Crowdtilt is about empowering people with the technology to do more with every dollar you spend, in any group situation,” said James Beshara, CEO of Crowdtilt. “With Sliding Costs, there’s no more hassle dividing up the price of a boat charter, wedding gift, vacation rental, new grill for the apartment complex or a projector for neighborhood movie nights even if you add friends at the last minute. It’s a perfect example of flexible pricing: the more people you have contributing, the less you spend. And each transaction is tracked and visually documented on the site, which makes the experience of evenly sharing the cost faster, easier and more accessible.”
Sliding Costs allows users to set a minimum number of people that must contribute to a given fund. Once that goal is met, the funding requirement “tilts,” with each additional person lowering the total amount each group member has to pay. The site will then update in real-time to display not only the people participating but the lower per-person costs.
“We have already demonstrated tremendous success with our initial beta testing of Sliding Costs, with more than 30 percent of Crowdtilt’s campaigns currently using this technology,” continued Khaled Hussein, CTO of Crowdtilt. “Crowdfunding interfaces shouldn’t just be about raising money – they also should be about connecting people to ultimately lower costs. With this insight in hand, our team developed these new features which truly position us as the most powerful platform for groups to fund virtually anything.”
Recently, Crowdtilt also brought online the following additional features:
- Comments – Whether they want to discuss crowdfunding progress or motivate people to reach their desired goal, individual participants can now communicate with others directly on the campaign page. This eliminates the need for long email trails or multiple group texts.
- Campaign Activity Feed – Each Crowdtilt page now clearly reflects campaign activity in a chronological timeline that is updated immediately when new funds are generated or new participants begin contributing to the goal.