Crowdsourcing vs Crowdfunding

Posted by guptaradhesh on August 30, 2013

Crowsdsourcing is when you have many people to help you with a project with ideas, testing, labor to build a better product. Open-source is a big example of crowd-sourcing. Leveraging the collective coding power of freelance programmers to deliver a great product. Another great examples being Wikipedia. Reddit, Digg being more examples of the same.

Crowdfunding is about the financing of projects and people by (large) crowds. Crowdfunding is a DIWO (do it with others) approaching to contributing to a cause they believe in. In a nutshell, it involves soliciting an audience of potential fans and convincing those fans that your film project is worthy of a donation from them to help you make the film. Or raising money for education or medical treatments.
Now they’re bringing these concepts home. Instead of just giving money away because it feels good or is the right thing to do, now you can do so and own shares of stock in that business!
Some of the top crowdfunding sites are: Kickstarter, Indiegogo, Crowdfunder, Angelist, Quirky ..


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