The Rise Of Kickstarter As A Crowdsource Platform Essay
1831 WordsOct 25, 20168 Pages
Unit #2 Essay:
The Rise of Kickstarter as a Crowdsource Funding Platform
ENGW 3304 Jackson – Advanced Writing in Business
October 24, 2016
This research paper will discuss the history of crowdsourcing, the history of Kickstarter as a crowdsourcing platform, the rise of Kickstarter as a market leader, the success and failures of Kickstarter, as well as the future of the industry as a whole. Although Kickstarter has had notable failures, the successes that it has generated undoubtedly outweighs the downfalls. This is distinctly seen in research conducted by Goldman Sachs, statistics from Massolution, graphs, charts, and tables from Statista, as well as various annual reports from 2015, and other evidence that suggest that it is steadily increasing its importance and is exponentially developing to be a big player in the future.
Crowdsource funding, or crowdfunding, is a way to raise money by asking large amounts of people to each invest or donate a small amount of money to a project. Crowdfunding giants such as Kickstarter, provide online platforms for entrepreneurs to advertise and gain traction on their innovative ideas. This has allowed many self-made entrepreneurs to bring their ideas to life. Kickstarter is appealing to small businesses because it cuts out the middleman (the banks); entrepreneurs no longer need to take out business loans to fund their projects. Instead, they