Crowdfunding is everywhere. People are using it to fund watches, comic books, even famous film directors are doing it. In what is now a $6 billion industry globally, I think the most interesting, disruptive, and exciting work that's happening is in donation-based crowdfunding.
That's worth, very roughly, $1.2 billion a year worldwide per year. Within that subset, I've been looking at civic projects, people who are producing shared goods for a community or broader public. These projects build on histories of community fundraising and resource pooling that long predate the Internet; what's changed is that we've created a scalable, portable platform model to carry out these existing practices.
So how is civic crowdfunding doing? When I started this project very few people were using that term. No one had done any aggregated data collection and published it. So I decided to take on that task. I collected data on 1,224 projects between 2010 and March 2014, which raised $10.74 million in just over three years.
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