At its most simplistic level, crowd funding is simply getting a crowd to help raise money for a cause, a financial flash mob with the cash to fund something cool. It has been happening with charities and local businesses and even with national companies for ages; talk to any entrepreneur and you are likely to hear how they went to friends and family to help them through the early stages, the most simplistic form of crowd funding.
Slava Rubin, co-founder and CEO of Indiegogo.com, a global crowd funding site, points out that the Statue of Liberty was, essentially, a crowd funding project led by Joseph Pulitzer.
â??Itâ??s not a new idea, but what you are seeing now are new applications, and that is going to grow exponentially now,â? Rubin said.
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