“The Decade of Crowdfunding”
Indiegogo Co-Founder and CEO, Slava Rubin, gave a presentation recently at the Kauffman Foundation entitled “How to Raise $1 Million in 30 Days”. The event was sponsored by Kauffman which is one of the pre-eminent foundations advocating for entrepreneurship.
Rubin, a Wharton grad and former Goldman Sachs consultant, gives a brief (30 minutes or so) presentation starting with the beginning of crowdfunding where he uses the example of Joseph Pulitzer “crowdfunding” to raise funds to put up the Statue of Liberty. Pulitzer, owner of a newspaper, used the technology of the day – print – to solicit funding to complete the project which was about $150,000 short. The average contribution was $0.83.
Jump to today and really little has changed except for the technology.
Rubin believes that while the last decade will be exemplified by Social Media – this decade will be remembered as the “Decade of Crowdfunding”. This is worth viewing.