Understanding the role of community in crowdfunding work

Hui, Julie; Greenberg, Michael D.; Gerber, Elizabeth M.

doi:10.1145/2531602.2531715

Cited by 195 publications

(136 citation statements)

References 23 publications

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“…The most difficult step was identified to be the third one: founders repeatedly failed to build a community and attract potential investors: "The majority of failed project creators cited the inability to successfully leverage an online audience as a main reason for failing." [14] Based on this literature review, we might conclude that an automatic way of matching projects with investors is needed. To propose such a way, we carry out an analysis that unfolds in three steps: derive few hypotheses concerning pledging behavior; 2) collect data from Kickstarter and Twitter to test those hypotheses; and 3) based on the findings, propose and evaluate models that match projects with potential investors.…”

Section: Related Workmentioning

confidence: 99%

“…They then went on recommending which tools computer scientists could build for supporting each of the steps [14]. The most difficult step was identified to be the third one: founders repeatedly failed to build a community and attract potential investors: "The majority of failed project creators cited the inability to successfully leverage an online audience as a main reason for failing."…”

Section: Related Workmentioning

confidence: 99%

“…In the same vein, Gerber et al listed the following motivations for investors: seek (non-financial) rewards, support creators and causes, engage and contribute to a trusting and creative community [10]. [8][9][10][11][12][13][14][15][16] [ [8][9][10][11][12][13][14][15][16] [ [8][9][10][11][12][13][14][15][16] [16-32) [16][17][18][19][20][21][22][23][24][25][26][27][28][29][30][31][32] [16-32) [16][17][18][19][20][21][22]…”

Section: Theoretical Implicationsmentioning

confidence: 99%

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Recommending investors for crowdfunding projects

Quercia

Crowcroft

2014

Proceedings of the 23rd International Conference on World Wide Web

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To bring their innovative ideas to market, those embarking in new ventures have to raise money, and, to do so, they have often resorted to banks and venture capitalists. Nowadays, they have an additional option: that of crowdfunding. The name refers to the idea that funds come from a network of people on the Internet who are passionate about supporting others' projects. One of the most popular crowdfunding sites is Kickstarter. In it, creators post descriptions of their projects and advertise them on social media sites (mainly Twitter), while investors look for projects to support. The most common reason for project failure is the inability of founders to connect with a sufficient number of investors, and that is mainly because hitherto there has not been any automatic way of matching creators and investors. We thus set out to propose different ways of recommending investors found on Twitter for specific Kickstarter projects. We do so by conducting hypothesis-driven analyses of pledging behavior and translate the corresponding findings into different recommendation strategies. The best strategy achieves, on average, 84% of accuracy in predicting a list of potential investors' Twitter accounts for any given project. Our findings also produced key insights about the whys and wherefores of investors deciding to support innovative efforts.

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Section: Related Workmentioning

confidence: 99%

Section: Related Workmentioning

confidence: 99%

Section: Theoretical Implicationsmentioning

confidence: 99%

See 1 more Smart Citation

Recommending investors for crowdfunding projects

Quercia

Crowcroft

2014

Proceedings of the 23rd International Conference on World Wide Web

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“…Several scholars find that project quality and the strength of personal social networks are a strong influence on success rates (Mollick, 2013; Cordova, Dolci, and Gianfrate, 2013), while Mitra and Gilbert (2014) show that particular words and phrases used in campaign materials can predict the outcome of Kickstarter campaigns. Second, Gerber, Hui, and Kuo (2012) and Hui, Greenberg, and Gerber (2014) are among the earliest scholars to conceive of crowdfunding in terms of the work being performed, and to begin to use qualitative methods to question the implications of the rise of crowdfunding for individual workers and groups.…”

Section: Introductionmentioning

confidence: 99%

Civic Crowdfunding: Participatory Communities, Entrepreneurs and the Political Economy of Place

Davies¹

2014

SSRN Journal

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Crowdfunding, the raising of capital from a large and diverse pool of donors via online platforms, has grown exponentially in the past five years, spurred by the rise of Kickstarter and IndieGoGo. While legislative attention in the US has turned to the potential to use crowdfunding as a means of raising capital for companies, less attention has been paid to the use of crowdfunding for civic projects -projects involving either directly or indirectly, the use of government funds, assets or sponsorship, which may include the development of public assets. This project analyzes the subgenre of civic crowdfunding from three perspectives. First, it provides a comprehensive quantitative overview of the subgenre of civic crowdfunding, its most common project types and its geographic distribution. Second, it describes three edge cases, projects that, while uncommon, demonstrate the current limits, aspirations and potential future path of the subgenre. Third, it analyzes the historical and intellectual paradigms within which civic crowdfunding projects and platforms are operating: whether they are best located within the historical context of community fundraising, participatory planning, entrepreneurial culture or a combination of the three. In addressing these questions, the thesis will explore the potential benefits and challenges of using crowdfunding as a means of executing community-oriented projects in the built environment, and offer proposals for how public and non-profit institutions can engage with crowdfunding to realize civic outcomes.

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“…Th e process of community building for crowdfunded media has not yet been explored by researchers. However, the research on crowdfunding in journalism shows that, when journalists seek fundraising for a single story, they have to communicate with the audience from the very beginning until the very last day of their crowdfunding campaigns, which includes sharing their ideas, opening themselves up for comments and replies, keeping the audience updated, and, sometimes, even calling or meeting the backers to express gratitude for their support (Aitamurto, 2011(Aitamurto, , 2015Hunter, 2015;Jian & Usher, 2014;Hui, Gonzalez, & Gerber, 2014).…”

Section: Kick-starting Media With Crowdfundingmentioning

confidence: 99%