crowdfunding - 4 Nowadays the internet has made it easy for...

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1) Hello everybody. Today, me and my groupmate Il’ya are going to talk about crowdfunding. 2) Crowdfunding is a method for obtaining project funding, by soliciting contributions from a large group of people, and especially from an online community. Crowdfunding model is based on three types of actors: The project initiator who proposes the idea and/or project to be funded Individuals or groups who support the idea A moderating organization (the "platform") that brings the parties together to launch the idea In 2013, the crowdfunding industry raised over $5.1 billion worldwide. 3) It’s an updated version of a traditional fundraising process. It used to be that church groups or civic groups would raise money to build a school or some community project. With the internet, that local group can reach out to a much larger population.
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Unformatted text preview: 4) Nowadays, the internet has made it easy for anyone and everyone to par±cipate in crowd funding. However, early crowd funding eForts can even date back to the 18th century when writers and musicians gathered money from many investors to publish large pieces of work. 5) Give Forward one of the earliest crowdfunding pla²orms was launched in 2008 a³er its co-founder could not ´nd a meaningful way to help families aFected by Hurricane Katrina In 2010, Give µorward became the 1 st crowd funding website for personal/individual medical fundraising and for fundraising around catastrophic events such hurricanes and typhoons. 6) Give Forward moTo “We’re here to help if you’re looking for a way to raise funds for friends or loved ones in need.”...
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