So then… What’s Crowdfunding?

What is crowdfunding? Crowdfunding is an ingenious way to raise money and awareness of  a certain project or idea. Crowdfunding is all about asking a large number of people to invest by contributing small sums of money in exchange for various different rewards or perks.

What is a crowdfunding platform? A crowdfunding platform is a site where crowdfunding takes place. The platform acts as a one stop shop for a range of different projects that are currently seeking crowdfunding. Making it easier for the browser to find something that they want to support.

What are great examples of crowdfunding projects that I might have heard of? There have been many popular crowdfunding projects in the past that we’re sure you’ve heard of, including:

  • Pebble: A crowdfunded, customisable smartphone watch that notifies you of emails, texts, calls, tweets and much more. Pebble is one of the most successful crowdfunding campaigns in history.  After initially setting out to raise $100,000 for the project, Pebble managed to bring in a whopping $10,266,845 from a massive 68,929 backers.
  • The Veronica Mars Movie: In 2013, fans of the TV series Veronica Mars got behind the castmates and production crew who teamed up to create a crowdfunding campaign for a return film. The campaign still remains one of the most funded projects of all time after managing to raise an enormous £3,700,000.045 from 91,585 people.
  • Statue of Liberty: A well-known New York landmark was realised by the pioneering idea of crowdfunding back in 1876. After the statue itself was gifted to the United States from France, New Yorkers needed to raise $250,000 to build the pedestal on which it stands today. It was then that Joseph Pulitzer decided to launch a newspaper campaign to raise the much needed funds.

Why get involved in Boomerang? Boomerang is a crowdfunding platform with a difference. Boomerang aims to help The Key and others seek funding for some fantastically innovative projects. It always strives to support our future generation by helping more young people get the opportunities they need to unlock their potential. Boomerang is also set up with gift aid options so you can give more for less and make an even bigger impact to the projects you choose to back. So why not take a look around Boomerang and choose to back one of our awesome projects!