Funded By People
Influx puts together some of the best examples of crowdfunding. From the election of Obama, where he raised some $650 million from people giving small amounts of money, lower than $300 each. Away in the UK, Franny Armstrong raised £530,000 to fund her movie, Age of Stupid, where she got 228 people to invest between £500 and £35,000 each. Another interesting experiment of creating a people owned football club, MyFootballClub fans came forward to purchase a small English club, Ebbsfleet United, in Kent, England. 32,000 fans from some 70 countries have invested at least £35 to purchase and manage the club. Elsewhere crowdfunding has created a participatory journalism website. Owngig on the other hand bands together music fans to pay for and invite their favourite band to play for them at the fans request and convenience. Philanthropy Magazine adds to the discussion with this story on how non profits are raising funds on social networking sites like Facebook.