July 14, 2015 0 Comments
November 19, 2014 0 Comments
t-shirts without any upfront costs. The user can design a t-shirt and sell it online and the money generated from the sales will be used to pay for the production of the t-shirts and shipping. The business model is so effective that the company has sold six million t-shirts this year alone and claims to have turned at least 10 people into millionaires.
Today, the company received a massive $35 million Series B from Khosla Ventures.You can read about the funding here.
February 17, 2014 0 Comments
Crowdfunding fuels Olympic dreams
What does it take to pursue an Olympic dream? It takes perseverance, commitment to excellence, discipline and lots of cash. The truth is, the cost of joining the Olympics is quite high. Athletes have to pay for training, equipment, travel, physiotherapy and daily living expenses. To get funding, most athletes rely heavily on sponsorship money in order to train. The more enterprising ones go to the Internet for support, specifically to crowdfunding websites to seek the much-needed funds.
There is a growing trend of crowdfunding sites that allow people and startups in need of cash to raise funds from a large pool of donors. It’s no secret that the 2-man Jamaican bobsled team has raised more than $115,000 from crowdfunding platforms Crowdtilt.com and Indiegogo.com. Canada’s Alpine skier Larissa Yurkiw used crowdfunding platform Pursu.it.com and raised $22,476 from more than 2,000 fans. In the US, ski jumper Lindsey Van raised over $20,000 via RallyMe.com, a crowdfunding site specifically focused on sports.
Given the funding success of these athletes, crowdfunding could play a bigger role in future Olympic games.
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