On Wednesday, Pozible announced that 10,000 projects have been launched through its crowdfunding platform and over $40 million has been pledged.
The company stated:
“Pozible has ticked past some pretty mega milestones recently, with our 10,000th project launching within a week of our $40 millionth dollar pledged. To celebrate, we did some soul searching, some surveying and some digging into our stats vault to see how crowdfunding has fared in Australia since we started 5 years ago. Here’s a round up of what we learned and liked best – Half a million supporters, you guys.”
It was also noted that 497,204 supporters have hit the platform and 15% pledged to more than one project. The Pozible team then revealed:
“We asked hundreds of supporters why they pledge, and the top response beat the others by miles – ‘I love supporting people and their stories.’ This is backed up by the fact that one in three pledgers across Pozible chose no reward. Projects by registered not-for-profits also raised nearly twice as much as regular ones.”
Project advisor, Elliot Chapple, explained:
“We’ve found crowdfunding in Australia is still more about giving than getting. Especially when there’s a really compelling story involved.”
Adding why research and community is one of the top campaign categories, Claire Merquita, who works with university and community partners, commented:
“Funding cuts tend to hit the arts first, and then spill over to other areas. It’s at the point now where everybody’s seeing government funding getting harder and harder to come by. So the question is, do you try to figure out a different way to get things done, or do you wait for it to disappear completely?”
In regards to campaign failures, co-founder Alan Crabbe said:
“There’s still a big misconception that crowdfunding is a free lunch, that this money comes out of nowhere. But there’s a lot of legwork that goes on behind the scenes of the biggest campaigns. You can’t expect strangers to hand you cash if your existing customers or friends won’t.”
Chapple added:
“Failing actually puts you in an excellent position to succeed,” says Elliot. “You know your supporters, where your traffic came from and what you did wrong.”
Check out Pozible’s latest infographic below.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!