Crowdfund: meaning, definitions and examples
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crowdfund
[ kraʊd fʌnd ]
fundraising project
To crowdfund means to raise money for a project or venture by collecting small amounts of money from a large number of people, typically via the internet. This method allows individuals or organizations to finance creative ideas, businesses, or causes by appealing directly to potential supporters. It has become increasingly popular due to the rise of online platforms that simplify the fundraising process and allow for a wide reach. Crowdfunding can take various forms, such as reward-based, equity-based, or donation-based crowdfunding.
Synonyms
collect contributions, finance, raise funds, solicit donations.
Examples of usage
- Many artists choose to crowdfund their projects.
- The startup decided to crowdfund their new app.
- She successfully crowdfunded her documentary.
- They crowdfunded the community center renovation.
- It's common to crowdfund for charitable causes.
Translations
Translations of the word "crowdfund" in other languages:
🇵🇹 financiamento coletivo
🇮🇳 भीड़ वित्तपोषण
🇩🇪 Crowdfunding
🇮🇩 crowdfunding
🇺🇦 краудфандинг
🇵🇱 crowdfunding
🇯🇵 クラウドファンディング
🇫🇷 financement participatif
🇪🇸 financiación colectiva
🇹🇷 kitlesel fonlama
🇰🇷 크라우드펀딩
🇸🇦 التمويل الجماعي
🇨🇿 crowdfunding
🇸🇰 crowdfunding
🇨🇳 众筹
🇸🇮 crowdfunding
🇮🇸 fjármögnun í gegnum fjöldann
🇰🇿 краудфандинг
🇬🇪 კრაუფანდინგი
🇦🇿 kütləvi maliyyələşdirmə
🇲🇽 financiamiento colectivo
Etymology
The term 'crowdfund' emerged in the early 2000s, combining the words 'crowd' and 'fund.' The word 'crowd' refers to a large group of people, while 'fund' indicates the act of providing financial resources. The rise of the internet and social media facilitated the development of crowdfunding platforms such as Kickstarter and Indiegogo, allowing individuals and entrepreneurs to solicit financial support easily from a global audience. This method of funding gained popularity during the 2008 financial crisis when traditional financing sources became scarce. It represents a shift in how creatives and businesses access capital, making it more democratic and accessible for those who may not qualify for conventional loans or investments. Crowdfunding has continued to evolve, giving rise to various models and strategies, affirming the growing importance of collective financial support.