Crowdfunding, is also known as hyper funding, crowd financing, and equity crowdfunding.
We think of social media as a marketing tool. But Chase Bank and LivingSocial have related it to crowdfunding. They offered 12 $250,000 grants that included social media services. Just to be eligible for the grants, they required applicants to prove that they have operationalized social media into their business model. The proof: get 250 facebook votes in a specific amount of time.
With help from our clients and colleagues we got 324 votes in three weeks. Not bad. And, thanks for your help.
Crowdfunding or crowd funding is defined in Wikipedia as “the collective cooperation, attention and trust by people who network and pool their money and other resources together, usually via the internet, to support efforts initiated by other people or organizations.” [Read more...]