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The Crowdfunding Backlash: What Do You Owe Your Backers?

The Crowdfunding Backlash: What Do You Owe Your Backers? | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Backers who supported Oculus Rift on Kickstarter are now angered that the company has sold to Facebook. What do crowdfunding projects owe their backers?

Oculus VR chief Palmer Luckey turned to Kickstarter to raise $2.4 million to create prototypes for the Oculus Rift headset. Billed as "the first truly immersive virtual reality headset for video games," the crowdfunding campaign attracted more than 9,500 backers. But now that the company has been sold to Facebook for more than $2 billion, some of the backers feel duped.

Countless backers of Oculus Rift vented their frustrations on the Oculus Rift Kickstarter. 

"I am saddened that the independent dream that was Oculus is now selling out to Facebook," wrote one of the project's backers. "Honestly, I feel that every single donor should get a "kickback/refund" from that $2 Billion (they'd still have plenty left over!) to put towards a Kickstarter project that isn't a masquerading golddigger. The whole idea of Kickstarter is to support people in making the world a better place through original ideas and technology, not selling out to corporate America. We already have enough politicians that do that - and you see how good that's worked out for the country. A shame and disappointment to everyone who backed Oculus; it's a damn shame."

It's reminiscent of what happened when Zach Braff's Kickstarter-funded "Wish I Was Here" sold big at Sundance and some of the film's backers complained that he had forgotten the little folks who helped the film get made.



Via Marc Kneepkens
Richard Platt's insight:

You don't own anything if you pledge $$,  so there does need to be some up front regulations for Crowdfunding before you actually invest

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Marc Kneepkens's curator insight, March 29, 7:39 PM

It's nice to be part of a community, something big, something that makes a difference. You don't own it though by pledging a small amount of money.

Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street
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10 Crowdfunding Sites To Fuel Your Project

10 Crowdfunding Sites To Fuel Your Project | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
10 Crowdfunding Sites To Fuel Your Project. Image Source: Ivan Pols Crowdfunding has taken the world by storm and people are finding that this innovative w
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Crowdsourcing Intelligence: Group of Bloggers Unearthing MH17 Intel Quicker Than U.S. Spies

Crowdsourcing Intelligence: Group of Bloggers Unearthing MH17 Intel Quicker Than U.S. Spies | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
In the furor to determine who shot down MH17, a group of citizen journalists has been collecting information more nimbly than American spies. (Crowd sourcing #MH17 intel. Perhaps more notable, the need to explain Perry Mason to the digital natives.
Richard Platt's insight:

Interesting that skills in combination with an aggregated team can do more in a shorter time frame - go figure that it would take a tragedy to help show the value add of citizen journalists  

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The future of crowdfunding is threatened by money grabbers and scammers

The future of crowdfunding is threatened by money grabbers and scammers | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Is the death of sites like Kickstarter and Indiegogo on the horizon?
Richard Platt's insight:

Seen at least three time travel projects, half a dozen energy generating schemes that basically amount to perpetual motion, gas additives that claim to boost mileage, backyard space exploration projects, homemade fusion reactors and techniques for taking pictures of ghosts. - Seems as though crowdfunding needs some experts to pre-screen projects before they're green lit for getting funding


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LOT Network hopes to disarm trolls

LOT Network hopes to disarm trolls | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
A new partnership between Canon, Google, Dropbox, SAP, Asana and Newegg is attempting to preempt frivolous lawsuits from ‘non-participating entities’ commonly known as patent trolls.
Richard Platt's insight:

“The LOT Network is a sort of arms control for the patent world. By working together, we can cut down on patent litigation, allowing us to focus instead on building great products.”  It is interesting to see more and more technology companies behaving as if they are all growing weary of the seemingly endless litigation battles where nobody really wins. Patents can protect intellectual property in a world where stealing ideas is commonplace but they have also become tools for extortion and patent trolls contribute nothing good to society.

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The Crowdfunding Backlash: What Do You Owe Your Backers?

The Crowdfunding Backlash: What Do You Owe Your Backers? | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Backers who supported Oculus Rift on Kickstarter are now angered that the company has sold to Facebook. What do crowdfunding projects owe their backers?

Oculus VR chief Palmer Luckey turned to Kickstarter to raise $2.4 million to create prototypes for the Oculus Rift headset. Billed as "the first truly immersive virtual reality headset for video games," the crowdfunding campaign attracted more than 9,500 backers. But now that the company has been sold to Facebook for more than $2 billion, some of the backers feel duped.

Countless backers of Oculus Rift vented their frustrations on the Oculus Rift Kickstarter. 

"I am saddened that the independent dream that was Oculus is now selling out to Facebook," wrote one of the project's backers. "Honestly, I feel that every single donor should get a "kickback/refund" from that $2 Billion (they'd still have plenty left over!) to put towards a Kickstarter project that isn't a masquerading golddigger. The whole idea of Kickstarter is to support people in making the world a better place through original ideas and technology, not selling out to corporate America. We already have enough politicians that do that - and you see how good that's worked out for the country. A shame and disappointment to everyone who backed Oculus; it's a damn shame."

It's reminiscent of what happened when Zach Braff's Kickstarter-funded "Wish I Was Here" sold big at Sundance and some of the film's backers complained that he had forgotten the little folks who helped the film get made.



Via Marc Kneepkens
Richard Platt's insight:

You don't own anything if you pledge $$,  so there does need to be some up front regulations for Crowdfunding before you actually invest

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Marc Kneepkens's curator insight, March 29, 7:39 PM

It's nice to be part of a community, something big, something that makes a difference. You don't own it though by pledging a small amount of money.

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The rise of crowdfunding: 10 things to know

The rise of crowdfunding: 10 things to know | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Crowdfunding platforms are changing the way we finance projects and services, but the laws surrounding them are still ambiguous. Here are 10 facts to get you up to speed.

Crowdfunding is a tool that allows anyone -- be it startup founders, musicians, artists, students, children, or even someone in a developing country who lacks basic electricity -- to attract a pool of people via the internet to invest in their business idea. A funding target is established, and rewards to backers are offered.This new type of startup business model has the opportunity to disrupt industries and change the way we determine success and let the best ideas flourish, rather than the best access to capital. It's exciting, because the venture capital model that powers Silicon Valley and the global startup scene is inherently biased based on geography and connections. According to the Small Business Administration, about 600,000 new businesses are started in the US every year. The number of startups funded by VCs? 300. That means 99.95% of entrepreneurs won't get funded.To affect real change, we have to understand the basics: what defines crowdfunding, how it works best, and how the current laws shape what's possible. We also need to look at the ways the law is changing and what it means for the future of crowdfunding.Here is a list of the 10 most important things to know about this important new buzzword.

To read the full article, click on the title or image.



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Via Marc Kneepkens
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Marc Kneepkens's curator insight, April 30, 8:44 AM

Startup or small business looking for funding? Here is a great introduction to crowdfunding, with links to funding platforms and a good overview of how crowdfunding works.

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Seven Startup Metrics You Must Track - Forbes

Seven Startup Metrics You Must Track - Forbes | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it

The Seven Startup Metrics You Must Track
Forbes

Not spending enough time gauging your business’s progress can be just as harmful as wasting your time with needless emails or Excel sheets. You may be so focused on getting your business to the next level, chasing funding and finding the right talent, that you are ignoring developing metrics to monitor your success.

But without strategic planning, you’re lost. And you can’t plan if you have no frame of reference for where you are.

I’ve found that these seven metrics (which roll up into three top-level categories: sales metrics, customer metrics, and finance metrics) are good starting points.

To read the full article, click on the title or image.




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Via Kristine Santos, Martin (Marty) Smith, malek, Marc Kneepkens
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Martin (Marty) Smith's curator insight, June 21, 12:51 AM

Agree, our Triangle Startup Factory Funded startup is tracking most of these "magic metrics".

malek's curator insight, June 21, 6:19 AM

Conversion to paid rate: if you started with a freemium model

Marc Kneepkens's curator insight, June 21, 10:41 AM

If you want to creat an amazing business you have to keep track of your progress. Test, implement, adjust, keep on creating.

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Mobile Deposit for Prepaid Cards And Wallets Poses Heightened Fraud Risk, A New Study Finds

Mobile Deposit for Prepaid Cards And Wallets Poses Heightened Fraud Risk, A New Study Finds | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Mobile Deposit for Prepaid Cards And Wallets Poses Heightened Fraud Risk, A New Study Finds http://t.co/wIJ3dMWKwm

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In Defense of Routine Innovation

In Defense of Routine Innovation | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
The vast majority of profit doesn't come from disruption.
Richard Platt's insight:

Once a company is established, innovation strategy means understanding how to leverage distinctive existing strengths to generate value and capture value. It means understanding how your repertoire of R&D skills, intellectual property, operating capabilities, relationships, distribution channels, and brand can protect and extend the value from innovation. - Meaning go find some new / other Use Cases for what you do best

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Smash Is A Wearable For Tracking Tennis Technique

Smash Is A Wearable For Tracking Tennis Technique | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
techcrunch.com - Fitness wearables are getting more specialized. There’s Sensoria’s smart running socks. The Krack trick-tracker for skateboarders. And now Smash: a wearable bracelet for tennis pla...
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Crowdfunding for Wearable Technologies Research Provides New Data About Funding Trends for Technology Startups

San Francisco, CA -- (SBWIRE) -- 04/18/2014 -- Crowdfund Productions (www.CrowdfundProductions.com), Colorado based crowdfunding consulting and event management company, completed a research “Crowdfunding for Wearable Technologies”.
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Wearable Banking Still Not Ready for Prime Time

Wearable Banking Still Not Ready for Prime Time | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Should banks and credit unions invest in wearable technology when consumers don't yet see an advantage to adding another banking device?
Richard Platt's insight:

PayPal will be the first payment provider on the new Samsung Gear 2 wearable devices according to an announcement at the Mobile World Congress. “The PayPal app will allow Gear 2 owners to check-in to pay at local stores, save and redeem offers, send money to a friend instantly, and receive payment notifications while on the go,” PayPal’s Vice President of Global Product Hill Ferguson wrote in a blog post.

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Richard Platt's curator insight, April 13, 11:18 AM

PayPal will be the first payment provider on the new Samsung Gear 2 wearable devices according to an announcement at the Mobile World Congress. “The PayPal app will allow Gear 2 owners to check-in to pay at local stores, save and redeem offers, send money to a friend instantly, and receive payment notifications while on the go,” PayPal’s Vice President of Global Product Hill Ferguson wrote in a blog post.

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Dealing with activist investors: A conversation with Larry Kanarek | McKinsey & Company

Dealing with activist investors: A conversation with Larry Kanarek | McKinsey & Company | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Shareholder activists are having a profound impact on the behavior of companies. McKinsey director Larry Kanarek says executives must work with—rather than against—activists to improve performance. A McKinsey & Company article.
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Google Launches Cloud Platform For Startups

Google Launches Cloud Platform For Startups | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Google Inc. (NASDAQ: GOOG) Cloud Platform for Startups will offer $100,000 in credit to startups that qualify for the new program. BidnessEtc explores how the company is looking to make a mark in a market dominated by Amazon.com Inc. (NASDAQ: AMZN).
Richard Platt's insight:

Google is offering startups $100,000 in Cloud Platform credit, including support from Google’s experts providing technical assistance as the startup grows. In order for startups to be eligible for the project, they must be less than 5 years old, have less than $5 million in funding and have annual revenues below $500,000.

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Stephen Colbert Destroys Ridiculous Kickstarter Projects

Stephen Colbert Destroys Ridiculous Kickstarter Projects | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Stephen Colbert is really impressed with Kickstarter. Before he launches his own project, though, he wants to tell everyone how great Vessyl is.
Richard Platt's insight:

2nd installment on ignorant designs with poor use cases, now Stephen Colbert chimes in on his new "smart toylyt" - what a riot - enjoy the video

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This unbelievably tiny smartphone charger knows plenty of other tricks

This unbelievably tiny smartphone charger knows plenty of other tricks | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
The Power Company, which previously crowd-funded a Charged Card ultra-portable smartphone battery, is back with a new interesting Indiegogo project — a wallet-sized Smart Card that not only packs quite a punch when it comes to spare battery juice,...
Richard Platt's insight:

Interesting solution to use the SD card slot as additional battery power as well the data cable and multi connection charger- its the swiss army knife of charging devices - important if you need an additional 3-4 hours for your smartphone

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How to Attract Investors via Equity Crowdfunding

How to Attract Investors via Equity Crowdfunding | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it

Equity crowdfunding investors are not like other crowdfunding contributors. They are not looking to support a particular item or to get a physical trinket for their support. Investors who you want to attract via equity crowdfunding are interested in long-term rewards, innovation, and growth. Attracting these investors should not mirror the other types of crowdfunding available. The goal is to attract serious investors in a non-traditional, high risk form of investment, also known as your start-up. Of course, the greater the risk, the greater the reward. In order to attract these investors, the issuer must let potential investors see the clarity and strength of the investment and future enterprise.



Via Marc Kneepkens
Richard Platt's insight:

Good clean report,  practical and to the point. It teaches a few basic skills when crowdfunding equity for your startup.

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Marc Kneepkens's curator insight, February 28, 3:33 PM

Clear, concise, direct.

Great article, very practical and to the point. It teaches a few basic skills when crowdfunding equity for your startup.

Not the same as 'rewards' crowdfunding.

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This Site Lets You Get Backers for Your Crowdfunding Project Before It Launches

This Site Lets You Get Backers for Your Crowdfunding Project Before It Launches | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it

Kickstarter says only 44 percent of its crowdfunding campaigns are successful. Provo, Utah-based startup Prefundia claims it can boost that success rate to 71 percent for anyone who uses its web platform to test out their idea for several weeks before formally committing to a Kickstarter posting. How? By drumming up buzz.

"It's specifically designed to help Kickstarter projects acquire a mass following," says Prefundia co-founder Jeff Schwarting, "so when they do launch there, they can come in with momentum and rake it in on the first day."





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Marc Kneepkens's curator insight, April 10, 6:56 PM

One important detail I noticed on the site: All Prefundia services are free.

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230 European Crowdfunding Platforms

230  European Crowdfunding Platforms | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it

Le Start-up Europe crowdfunding network, programme de la commission européenne, a publié son rapport sur la santé du secteur dans le vieux continent. Il a recensé pas moins de 230 plate-formes de financement participatif en Europe, la France, l'Italie et l'Allemagne étant les pays les plus actifs dans ce domaine. Mais c'est l'Allemagne qui compte le plus de campagnes bouclées, avec un taux de réussite de 27%, contre 17% pour l'Espagne et 16% pour la France.



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Via Nelly Renard, Edouard Estour, Marc Kneepkens
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Marc Kneepkens's curator insight, May 30, 7:49 AM

Interesting numbers from Europe.

Philippe GABORIEAU's curator insight, May 30, 1:05 PM

Le financement des entreprises en crowdfunding se développe dans toute l'Europe

Michel CEZON's curator insight, June 3, 3:30 AM

Le rapport complet à lire sur http://www.crowdfundingnetwork.eu/

La section Crowdfunding 101 du site est très bien faite : à lire !!!

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Dropbox acquires stealthy data analytics startup Parastructure

Dropbox acquires stealthy data analytics startup Parastructure | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it

Dropbox has acquired Parastructure, a stealthy startup that devised software for analyzing companies’ data, VentureBeat has confirmed.


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Can Apple's Passbook and iBeacon finally push mobile payments forward? - Calgary Herald

Can Apple's Passbook and iBeacon finally push mobile payments forward? - Calgary Herald | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Calgary Herald
Can Apple's Passbook and iBeacon finally push mobile payments forward?

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Wearable Technology $50 Billion Investment Frenzy

Wearable Technology $50 Billion Investment Frenzy | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Tweet Scoop.it Tweet By Dr Peter Harrop, IDTechEx. Many giant electronics manufacturers, computer services companies and conglomerates have tens of billions of dollars in the bank that is instantly available for investment to counter their saturating sales in mature markets. Samsung, General Electric and Google are examples and Apple even has $133 billion available. They [...]
Richard Platt's insight:

Interesting - "You may get bought for an eye watering sum of money. Alternatively, IDTechEx counsels that you do not meet the giants head on but take a look at the smaller but still substantial sector of wearable electronics for animals with an initially addressable market of 20 billion animals managed by humans. Later, that business will add substantial wearable electronic ID, diagnostics, location and treatment for billions of endangered species as we destroy the world around us. The big boys are giving that a miss for now." - And not the only place the big fella's are missing to target

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Crowdfunding for Wearable Technologies Research Provides New Data About Funding Trends for Technology Startups

San Francisco, CA -- (SBWIRE) -- 04/18/2014 -- Crowdfund Productions (www.CrowdfundProductions.com), Colorado based crowdfunding consulting and event management company, completed a research “Crowdfunding for Wearable Technologies”.
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Wearable Technologies: New Data About Funding Trends for Technology Startups

Wearable Technologies: New Data About Funding Trends for Technology Startups | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
San Francisco, CA — (SBWIRE) — 04/18/2014 — Crowdfund Productions (www.CrowdfundProductions.com), Colorado based crowdfunding consulting and event management company, completed a research “Crowdfunding for Wearable ...
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Preparing for bigger, bolder shareholder activists | McKinsey & Company

Preparing for bigger, bolder shareholder activists | McKinsey & Company | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Activists are targeting more and bigger companies. Here’s what attracts them—and some tips on how to respond when they show up. A McKinsey & Company article.
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