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Find another crowdfunding site and describe two projects featured on that site.

Find another crowdfunding site and describe two projects featured on that site.

Principles Of Marketing
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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A. Marketing Environment Marketing Technology Crowdfunding If you have a great product idea but no money, never fear, there's Kickstarter, an online crowdfunding site. Founded in 2008, Kickstarter enables companies to raise money from multiple individuals and has helped launch more than 60,000 projects. Pebble Technology Corporation created a "smart" wristwatch called Pebble, which works with iPhones or Android phones, but didn't have the funding to produce and market the device. So young CEO Eric Migicovsky turned to Kickstarter for crowdfunding. His modest goal was to raise $100,000, but the company raised $1 million in only one day and a total of $10.27 million in just over one month! Nearly 70,000 people preordered the $115 watch, and Pebble now has to deliver on the promise. Kickstarter takes a 5 percent fee on the total funds raised and Amazon Payments handles the processing of the funds. Kickstarter charges pledgers' credit cards and the project creator receives the funds within only a few weeks. The JOBS Act legislation signed into law in 2012 provides a legal framework for this type of financing, which is expected to grow even faster as a result. However, Kickstarter and similar sites don't guarantee that the projects will be delivered as promised, and some people are concerned that crowdfunding will beget crowdfrauding. Find another crowdfunding site and describe two projects featured on that site.
Transcribed Image Text:A. Marketing Environment Marketing Technology Crowdfunding If you have a great product idea but no money, never fear, there's Kickstarter, an online crowdfunding site. Founded in 2008, Kickstarter enables companies to raise money from multiple individuals and has helped launch more than 60,000 projects. Pebble Technology Corporation created a "smart" wristwatch called Pebble, which works with iPhones or Android phones, but didn't have the funding to produce and market the device. So young CEO Eric Migicovsky turned to Kickstarter for crowdfunding. His modest goal was to raise $100,000, but the company raised $1 million in only one day and a total of $10.27 million in just over one month! Nearly 70,000 people preordered the $115 watch, and Pebble now has to deliver on the promise. Kickstarter takes a 5 percent fee on the total funds raised and Amazon Payments handles the processing of the funds. Kickstarter charges pledgers' credit cards and the project creator receives the funds within only a few weeks. The JOBS Act legislation signed into law in 2012 provides a legal framework for this type of financing, which is expected to grow even faster as a result. However, Kickstarter and similar sites don't guarantee that the projects will be delivered as promised, and some people are concerned that crowdfunding will beget crowdfrauding. Find another crowdfunding site and describe two projects featured on that site.
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