Crowdocracy is an open forum of the crowd, for the crowd, by the crowd that welcomes anyone who believes he / she has or wishes to claim a stake in this new crowd-empowered economy. The Crowdocracy Ranking System provides audience an instant appraisal of the best of the week in crowdfunding marketplace.
In the last few days of its campaign, JIBO Robot finally reaches the top spot this week.
It edged out COOLEST Cooler campaign, which is still going strong on Kickstarter. With $8.4 million already in its kitty, and 20 more days to go COOLEST is heading to a new record of sorts.
JIBO scored over COOLEST mainly because of JIBO’s social media shares and video traffic.
Another odd and surprise entry into the top ten is the Fire Squadron card game campaign at number ten. Odd, because the campaign goal was only $5, and surprise, because at the time of writing it had already raised $1,296, a full 26,000% of its goal in its first 3 days.
Fire Squadron enters top ten entirely on the strength of the disproportionately large amount raised, despite virtually non-existent social media shares. It will be interesting to see how this card game performs in the remaining 27 days.
Last week we updated our list of top Five Fastest Crowfunded Million campaigns. It was widely reported CrowdCube raised £1.2 million in a crowdfunding campaign hosted on their own website. CrowdCube’s campaign goal was reached in just 16 minutes, setting a new world record. CrowdCube, therefore, topped our list of Fastest Crowdfunded Million.
However, subsequently in a Tweet CrowdCube clarified that $1 million was actually reached in just 3 minutes.
Indiegogo is a well known pioneer in the world of crowdfunding launched back in 2008.In particular, those fundraising campaigns which support humanitarian, environmental, or other more altruistic endeavors frequently find a home on Indiegogo. Its global platform lends itself to crowdfunding campaigns the world over, and at present Indiegogo holds the distinction of hosting the highest crowdfunded total on the web, successful or not.
While establishing their presence mostly for people who have been affected by physical or financial hardship, GoFundMe has raised over $370m during its existence, primarily for causes and people instead of products. Although, Indiegogo campaigns have raised substantially more, the crowdfunding pioneer is poised for a substantial growth with $40 million venture capital raised in its latest round of funding.
THE LATEST: The daily rankings at Crowdocracy released today indicate that GoFundMe has surpassed and replaced its global and US rank from #3 to #2 at the Crowdocracy Global rankings and Crowdocracy US rankings pushing Indiegogo to third position. Crowdocracy Global ranking is estimated by averaging the global web traffic reported by Alexa and Similarweb, while Crowdocracy US ranking is the average of US web traffic as measured by Alexa, Compete and Similarweb. Outranking of Indiegogo by GoFundMe comes as a bit of surprise to most of us in the crowdfunding industry.
PREDICTIONS: While GoFundMe’s lead over Indiegogo in US ranking is sizeable, its Global lead is razor thin and it’ll not be too surprising if it’s edged out very soon by cash-rich Indiegogo. With rest of the crowdfunding sites way behind, Kickstarter, Indiegogo and GoFundMe are expected to keep ruling the crowdfunding roost at least for the rest of 2014.
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There is no force like people united in their cause. iVigil is a novel cause marketing technology that has the potential to spread virally and unite people for changing the world. iVigil launches crowdfunding campaign on Indiegogo.com
iVigil, a project conceived and developed entirely in the virtual world of LinkedIn networkers becomes world’s first venture to take the process of democratization of venture formation to the next level – crowdfunding. On Tuesday, April 17th, 2012, at 12.00PM, the iVigil crowdfunding campaign went live on Indiegogo.com, one of the leading crowdfunding platforms.
Pitched as the first ever venture of the crowd, for the crowd, by the crowd, iVigil is the first venture coming out of Crowd Innovation Ventures (Crowdocracy), a LinkedIn group of LinkedIn professionals established less than a year ago with a mission to democratize the process of venture formation in the crowd by contributing towards evolving an optimal model. On the group’s first project launch, Dr Fazal Raheman, the group manager said, “the preceding 9 months had been very hectic. We took several projects through the ideation process, and now we have at least four of them in the pipeline. All of our projects are technology based with disruptive business models. We invite all to visit our website at http://crowdocracy.org and join us in developing crowd ventures and in the process writing the new rules of crowdocracy”
There is no force like people united in their cause. iVigil is a novel cause marketing technology that has the potential to spread virally and unite people for changing the world. At least three practical implementations of the iVigil technology have been announced on www.iVigil.org website. The Indiegogo crowdfunding campaign is launched to raise funds for these initiatives.
About Crowdocracy (www.crowdocracy.org - A professional group in LinkedIn - http://linkd.in/w3423L)
Crowdocracy is a group of entrepreneurs, inventors, social media marketers committed to sharing each other’s expertise in developing and spinning off ventures in the crowd.
Qualified Co-Founders of such ventures are LinkedIn members who contribute their skills for equity in these ventures.
Healthcare Reforms legal battle begins with people sleeping on the
sidewalk for 3 days for a glimpse of the 3 day legal marathon to take
place at the United States Supreme Court starting Monday, 26th
March, 2012. The craze to get a seat into the Supreme Court oral
arguments on healthcare reforms has no parallel in recent times. The
line for the limited seats, open to public, started forming on Friday 23rd
for the 3 day oral arguments that begin Monday. US Supreme Court hasn’t
seen such a polarized case in many decades. In addition to the
line-standers vying for a seat in the audience, the stakeholders have
already established their camps in outside the US Supreme Court. The
oral arguments start Monday 26th and continue until Wednesday 28th.
The nation’s highest seat of judicial power can accommodate only
about 400 people in the courtroom. Majority of the seats are reserved
for law makers and the legal community. The big shot lawyers and
politicians have been scrambling for entry to these historical sessions.
The court has set aside only about 60 seats for members of the public,
and that’s the reason people have lined up with their backpacks and
sleeping bags for 3 days to compete for one of those 60 seats.
On Friday afternoon, the first three people in line to hear the Supreme
Court’s oral arguments on the health reform law chat with a Supreme
Court police officer. (Photo credit: www.washingtonpost.com at http://wapo.st/H345vu)
If emotions are running so high even before the Supreme Court starts
hearing the case, can’t imagine what happens when the judgment is
delivered sometime in June just ahead of the next Democratic and
Republican presidential nomination conventions. One thing isn’t going
to change though. Whoever prevails, the astronomical US healthcare
costs aren’t coming down anytime soon.
“Shut up and take my money.” Well I didn’t say that. That’s exactly what a gaming fan (Eurogamer reader Arcam http://kck.st/zHkxwF ) told a game developer who is turning out to be the next big success on Kickstarter after Double Fine’s $3.3 million haul. The best part is, in the campaign video, Brian Fargo, the man behind the Wasteland 2 crowdfunding campaign, told the audience, how miserably he failed to convince the gaming investors/publishers to fund his project. In essence, confessing the audience that no traditional gaming industry insider of present time would touch his project with a ten foot pole. Conventional wisdom told me that his confession would deter me from putting my 2 cents in his project turned down by the established video game sponsors. Yet, the crowd went gung-ho over his Wasteland 2 idea. Within just 48 hours of the campaign, they gave him more than he wanted. And, the money keeps pouring in as we speak.
So what is the moral of the story? As much as it is scientifically established that much of human behavior is predictable, one would expect the crowd to be a cumulative aggregate of that prediction. Wrong!! The crowd psyche is unpredictable. As it stands today, crowd economy is heading northward; just impossible to predict the extent of its economic impact on entrepreneurship with any certainty. At least, it’s beyond me.
Crowd sourced funding finally had its day on March 13, 2012 when over $3.3 million was raised in just over a month without a business plan, without borrowing money and without even giving away equity!!! Is it scaring the Venture Capital industry?
Well, crowdsourcing is changing the way entrepreneurs raise seed capital, a lot faster than anyone could have imagined. One gaming company did that in just 34 days. Double Fine, a bay area game developer garnered support from a whooping 87,142 backers and the money kept pouring until the last hour on March 13th at 8.00PM EST. The Crowdfunding revolution is not stopping at that. Stepping in the Double Fine’s footstep is another west coast game developer InXile already creating ripples with over 16,000 backers racing the campaign to its $900,000 goal within the first two days.
So far it’s been mostly individuals who have been backed by the crowd. The real revolution would be ventures developed by the crowd itself. That’s where the real social impact will come from – ventures of the crowd, for the crowd, by the crowd.
Where all this is heading, may be of concern to the venture capital industry and equity regulators. Well, the revolution has already set in. Now it is beyond regulators and stakeholders to stop it. But what the heck, isn’t a free market economy driven by the market itself rather than the controllers of the market?
