However India might benefit from an existing crowdfunding ideal ingrained in its socio-cultural practices. The "chanda" collection for the community puja (festival) is pure, unadulterated crowdfunding.
India's first crowdfunded film came way back in the 70's with Shyam Benegal's Manthan, which was produced by contributions from 2 milk farmers in Gujarat.
Today, a lot of prominent Indian filmmakers, musicians and entrepreneurs on the scene are waking up to the potential and power of crowdfunding. Some prominent examples include Onir (whose National Award winning film I AM was crowdfunded by more than 400 contributors); Kannada film Lucia and many more!
Richard Branson is a very big businessman: founder of the Virgin music company, Virgin Airlines, Virgin Galactic, and other parts of the Virgin Group. But with an investment this week in Indiegogo, he took an interest in the smallest of entrepreneurs.
The crowdfunding industry is growing exponentially, and as it becomes an ever more popular way for entrepreneurs to raise money to fund their dreams, it’s getting attention from an elite tier of investor entrepreneurs.
San Francisco-based crowdfunding site Indiegogo announced today it has secured a second investment in under six months (the amount was not disclosed). Investors in the round include Sir Richard Branson, the founder of Virgin Group; Max Levchin, the co-founder of PayPal; Maynard Webb, investor and tech executive that sits on various prominent boards; and Megan Smith, an entrepreneur herself and a vice president at Google.
For example, there's this: Every hour in the month of March, more than $60,000 dollars were raised via crowdfunding throughout the world.
And this: In the first three months of 2014, $124 million was raised around the world via crowdfunding.
With the only equipment necessary in some cases being a smartphone, along with some imagination and innovation together with know how. The new era of business and entrepreneurship is ideal for South Africa with its huge unemployment and under resourced communities. We share some insights about the growing trend in crowdfunding South Africa is growing.
Until recently, financing a business, project or venture involved asking a few people for large sums of money. Crowdfunding switches this idea around, using the internet to talk to thousands – if not millions – of potential funders. Typically, those seeking funds will set up a profile of their project on a website such as those run by our members. They can then use social media, alongside traditional networks of friends, family and work aquaintances, to raise money. There are three different types of crowdfunding: donation, debt and equity.
Rumours around BitPay, a platform that processes payments in bitcoin for merchants, is raising the field’s biggest round yet. The company is raising $30 million on a roughly $160 million valuation in a round led by Index Ventures, with Richard Branson and Yahoo co-founder Jerry Yang participating.
With BitPay’s previous funding round, the company’s financing tops the combined $26 million that Boston-based rival Circle has raised from Accel Partners, or the $31 million that San Francisco-based Coinbase raised from Andreessen Horowitz and Union Square Ventures or the $20 million round that Benchmark led for Xapo.
Oyster, a startup that offers offers unlimited access to its collection of e-books for $9.99 per month, has crossed a nice milestone — it says its library now includes 500,000 books, compared to 100,000 when it launched in September of last year.
The company also said it recently expanded its partnership with HarperCollins, bringing 10,000 more of the publisher’s titles (including Beautiful Ruins by Jess Walter, The Happiness Project by Gretchen Rubin, and American Gods by Neil Gaiman) into Oyster. And it has signed new deals with publishers including McSweeney’s, Chronicle Books, Grove Atlantic, and Wiley.
The deal will supposedly be announced next week, according to the Financial Times, who first reported news of the rumored acquisition. If true, the deal would be the largest acquisition in Apple’s history. It would also mark a huge change in strategy for Apple, which has traditionally stayed away from high-dollar acquisitions.
Some details of the deal are still in the works, according to FT’s sources, which means the talks could still fall apart. What we do know is that Apple would take control of Beats’ hardware business (including its signature headphones) and its relatively new streaming-music service, Beats Music.
Singapore startup Giift wants to shake things up with an online platform that supercharges how loyalty programs are done through the efficiency that the internet brings. It has a classic two-sided platform – on one side, merchants have the ability to upload, manage, and measure their loyalty programs in exchange for monthly subscription and referral fees of between four to six percent. On the consumer side of things, users can track the amount of loyalty points they have, make redemptions using the app, and exchange points from one program to another