Need to Raise Money? Why Not Try Crowdfunding
Over the past few years raising money through crowdsourcing has skyrocketed in popularity leading to the creation of many successful sites like Kickstarter and GoFundMe.
Massolution, a research firm specializing in the crowdsourcing and crowdfunding industries, has released its annual report on the state of the crowdfunding industry titled “2015CF – Crowdfunding Industry Report.”
According to Massolution’s report, crowdfunding is accelerating at an “unprecedented rate” with the total amount raised through crowdfunding expected to reach $34.4 billion in 2015, double from the $16.2 billion raised in 2014. While North America accounts for the largest crowdfunding market ($9.46 billion), Asia has moved into second place with a funding volume of $3.4 billion overtaking Europe which raised $3.26 billion in funding.
The study also states a variety of other interesting statistics regarding crowdfunding including the growth rates by funding model (Lending based, Equity based, Royalty based, etc.), the top 11 performing crowdfunding categories and the outlook of crowdfunding.
"Surprises materializing from this year's research included GoFundMe topping Kickstarter as the largest donation/reward based CFP and astounding growth in the P2P lending market in Asia, stemming largely from the Chinese market,” states Carl Esposti, CEO of Massolution. “Further, the top 5 CFPs in North America increased wallet share during the period 2011-14 while in Europe the top 5 lost 30 percent of their market share, indicating that the markets in North America and Europe are shaping up very differently."