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Crowdfunding for Charity

7 Best Platforms for Crowdfunding for Charity

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A non-profit organization is usually in more need of money than a profitable organization. However, they do receive some good funding. But it is quite difficult to survive today, mainly because there are so many non-profit organizations. Thus, if you limit yourselves to donations from people of your area or city, you are gonna suffer.

Instead, if you broaden this to people from all over the world, then you can get more donations. This is where crowdfunding for charity is going to help you. Here are a few great platforms which can be very helpful to you.

#Crowdrise

This website was founded in May 2010. Crowdrise has a very new approach for crowdfunding for charity. They use gamification and reward points system. Thus, they ensure that the donors get engaged in the system. Plus, they donate more than they usually would. Additionally, the website also categorizes the campaigns in categories like education, animal welfare, etc.

#HopeMob

HopeMob is a very interactive platform for crowdfunding for charity. The website deeply involves itself in the campaigning of the project. First of all, when an organization approaches them, they interview and research them thoroughly. Afterward, if they are satisfied, they allow the organization to launch a campaign. Additionally, they completely help the organization to set up the crowdfunding for charity campaign and make it successful.

#Causes

“Causes” is not just a platform for crowdfunding for charity. Instead, they are dynamic when it comes to making the world a better place. For example, the website can even be used to create petitions and request people to take pledges. However, a down part of this website in case of crowdfunding for charity is that it allows just its registered users to create a campaign.

#FirstGiving

First Giving is an established website for crowdfunding for charity. It has in its achievements, success of projects like Habitat for Humanity, The Humane Society, etc. Till date, the website has successfully raised more than $1 billion. Additionally, there are more than 13 million donors, who are more than ready to help a project of crowdfunding for charity.

#Causevox

Causevox is an extremely feature-rich platform for crowdfunding for charity. As a user, you can create a beautiful campaign for your organization. Additionally, the supportive features of the website help you make your campaign more attractive. Thus, helping you to create a more successful campaign.

#Razoo

Razoo is a very professional and well-built website for crowdfunding for charity. It not only supports projects of crowdfunding for charity, but also allows many other types of projects. They have categorised the projects nicely. Thus, the donors can reach projects more comfortably. In all these categories, the website further has many sub-categories too.

#Rally.org

This is a Texas based crowdfunding platform for charity. One of the most successful campaigns of this website is Make a Wish Foundation. It has a very user-friendly interface. Plus, it is a completely free crowdfunding platform. Thus, you can use it at ease for your non-profit organization. A magazine called Campaigns and election, recognized rally.org as the “Best Online Fundraising Tool, 2012”.

 

USA Crowdfunding Sites

Top 8 USA Crowdfunding Sites – 2016

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The United States of America is amongst the very first countries to use crowdfunding. The American government passed the JOBS Act in 2012. Thereafter, Crowdfunding has seen a very rapid growth in America. More and more investors are finding better profits in crowdfunding. While entrepreneurs are finding a feasible way of fundraising. Thus, crowdfunding has become the first option for many. Here is a list of the Top 8 USA Crowdfunding Sites. You can choose one of these for your next investment.

#AngelList

AngelList was founded in 2010. This one is a very reputed and established name on the list of USA Crowdfunding Sites. Since all the companies working with it are established. Plus, all the projects listed are thoroughly verified. Thus, investors can stay assured of their money.

#CircleUp

CircleUp is one of the USA Crowdfunding Sites which food and beverage, fitness and technology sectors. The company helps investors connect with consumer-facing startups. Although, the company has a lot of plus points which make it a leading name. But their detailed information about each project’s company makes it better.

#Crowdfunder

Crowdfunder is a website which is kinda flexible, yet ends up being a bit rigid. For example, there is no minimum limit set for investments. However, it is a big task to find a project with a requirement less than $1000. But apart from such facts, it is one of the leading USA Crowdfunding sites. And it focuses on some unusual projects.

#Fundable

Fundable is popular for being one of the USA Crowdfunding sites which provide reward-based as well as equity crowdfunding. Since the lower limit of fund-raising is $10,000 at a time, a lot of small businesses go for Fundable. Thus, even small scale investors can rely upon it.

#WeFunder

WeFunder is one of the most active and popular USA Crowdfunding Sites. This site accepts investments which are as little as $100. A lot of early-stage companies or individual startups post projects on WeFunder. The website provides a detailed information about the project and the company. Additionally, registered customers can also contact the WeFunder team for any queries.

#EquityNet 

EquityNet is amongst those USA Crowdfunding sites which work with consumer products and social enterprises. The website also has single-asset projects. Additionally, EquityNet even allows non-registered members to view the project details, unlike other USA Crowdfunding Sites. However, if someone wants access to full prospectuses and audited financial disclosures, they have to register first.

#Early Shares

This is one of the USA Crowdfunding sites which are solely dedicated to commercial real-estate projects. You can find everything over here, from multi-asset funds to discrete properties. However, the company hasn’t mentioned any minimum limit for investments. But due to the nature of the projects, the minimum investments are usually around $5000.

#SeedInvest

SeedInvest is amongst those USA Crowdfunding Sites which focus mainly on long-term investors. All the information and facilities are accessible only to their accredited investors. A majority of the projects listed on the website are of tech-startups. However, you may find projects from some other sectors too.

 

Crowdfunding Types

Understanding the Crowdfunding Types in Detail

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Google defines crowdfunding as, “the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet.”  In simpler words, it is just a lot of people financially backing an idea of yours. However, this is a very broad overview of crowdfunding. Thus, it cannot help us understand much about the thing. Crowdfunding is a much broader concept. In fact, there are some 4 different crowdfunding types. And all of them are very different from each other. Let us try and understand them in detail.

Crowdfunding Types

Equity-Based Crowdfunding 

Equity-Based Crowdfunding is the most popular of all the crowdfunding types.

In equity crowdfunding, the investors have to invest comparatively large sums of money. For investing this amount, the are given some equity or stake in the company. This stake helps them ensure some good future profits.

Since equity crowdfunding requires larger investments, startups usually don’t use it. Also, the company has to make the people believe in them. Thus, it can be difficult for startups to use it. Therefore, it is used by established companies to fund some new growth ventures.

Donation-Based Crowdfunding

Donation-Based Crowdfunding or Non-Profit Crowdfunding are both the same crowdfunding types.

In these crowdfunding types, we have donors instead of investors. Usually, an organization or a group of people launch a project meant for social good. It can be anything – building a school, treating the sick, etc. Some people even use it for personal good. For example, a person needing money for some medical treatment.

Usually, the donors don’t receive any kinds of rewards or other profits. Since it is meant to be a “non-profit” thing. However, sometimes the organization gives them some mementos.

Reward-Based Crowdfunding

Reward-Based Crowdfunding is also very popular amongst the crowdfunding types. Startups usually prefer this over other crowdfunding types.

In reward-based crowdfunding, usually, the term backers is used. In this type of crowdfunding, the backers give some money to small projects. While, the creators give some small rewards to the backers.

Though these rewards are usually the product being produced. But sometimes, it may be something else too.

Debt-Based Crowdfunding

Debt-Based Crowdfunding is principally different from all the other crowdfunding types. Here, there are no investors or backers. But instead, lenders. Additionally, they don’t expect some equity or rewards. But, they expect to get the principal amount back along with a fixed interest.

Although, Debt-Based Crowdfunding is more like taking a loan from a bank. But in this case, you take smaller loans from a large number of people.

Debt Crowdfunding is mostly used for personal reasons. For example, buying a new house, debt consolidation, etc. Although debt crowdfunding is quite a good idea. But in practical terms, it isn’t as popular as the other crowdfunding types.

Concludingly, all the crowdfunding types are meant for very different purposes. Also, one cannot say which of the crowdfunding types is the best. It completely depends on what you need money for.

crowdfunding disadvantages

4 Biggest Crowdfunding Disadvantages you need to know

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“Every coin has two faces.” Quite a popular phrase, isn’t it? Well actually, it is true. Every single thing does have two aspects – The good and the bad. Plus, a lot of shades of  gray! Such is the case with crowdfunding as well. Though it is one of the most revolutionary fundraising concepts. But still, there are a lot of crowdfunding disadvantages. Here are a few crowdfunding disadvantages which every entrepreneur needs to know.

#You need to be “Ordinary” or “Larger than life”!

One of the biggest crowdfunding disadvantages is that you need to create something visible. Your idea needs to be a simple package. Since the backers pay for your idea, it is necessary that they understand it. And making a crowd understand a complex idea? That can be very tricky! Thus, you cannot pursue an idea which is too much ambitious.

Because the crowd can either understand a simple idea. Or you have to go for a larger than life thing! But remember, that is a big big risk to take.

#Your brand name can be completely ruined!

Reputation is everything that matters in the business industry. Your name is your brand value. And if it ever gets ruined, it is almost impossible to revert the process. This is where crowdfunding disadvantages come into the situation.

Let us understand this by an example. Suppose, you launch a crowdfunding campaign for your company. And due to reasons, it doesn’t become successful. Now your brand name has a tag of a failed crowdfunding campaign attached to it. And no matter what the reason is, people would believe that it is due some flaws in your product. This thing is possibly the biggest of all crowdfunding disadvantages.

#Your idea can be at a risk!

When you want to crowdfund your campaign, you have to be open about your project. Since you want to convince people to invest in your idea, you have to share it all with them. Thus, you have to disclose your idea in a detailed manner so that people would invest in it. This calls for one of the most severe crowdfunding disadvantages – The risk of being copied!

Since you are displaying your complete idea on a platform, there can be some people who copy it. Unless your idea is already patented, anyone can easily steal your idea.

#Possible Legal Actions

When people invest in your idea, they are expecting some good returns. They either want a product or some monetary profit. Now you may be honest and use all the money for a successful project. But sometimes, things can go very very wrong. Your project can fail even after being crowdfunded. And then, you have to face one of the most dangerous crowdfunding disadvantages – The Legal Actions. Your investors might sue you and it can take a lifetime for you to come out of it.

Though it is a very good idea. But the crowdfunding disadvantages can be quite severe. You don’t need to skip the idea because of these crowdfunding disadvantages. All you need to do is stay a bit cautious.

 

Crowdfunding for Education

9 Websites for Successful Crowdfunding for Education

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Education is considered as the easy way to success in the 21st century. A graduate degree is just considered useless. It is the minimum requirement today. Unless you are Mark Zuckerberg of course! At least a post grad or a doctorate is required for a successful academic career. But the sad reality is that as the need for education is increasing, the price of education is increasing. It is almost impossible for a common student to get a degree from a good college. Here is where crowdfunding for education comes to your rescue.

Crowdfunding for education is the best way out for a regular student. Because not all students can grab a scholarship, right? Here are a few websites for successful crowdfunding for education.

#Adopt-A-Classroom

Adopt-A-Classroom is a unique website for crowdfunding for education. With this website, the donors can choose any classroom to donate to. Or if they don’t have a specific preference, the website itself chooses a class for the donor.

#ZeroBound

ZeroBound works on voluntary donations for education loans, etc. Different volunteers, organizations, etc. donate for crowdfunding for education. Also, the website has nominal fees. They 2.9% processing fee and $0.30 transaction fee on all transactions. Additionally, they even charge 5% service fee from the successful projects. And 8% service fee if the project does not reach the goal.

#Indiegogo

Indiegogo is an international crowdfunding website. It mainly works with reward-based and donation crowdfunding campaigns. Additionally, they even support crowdfunding for education. The fees range from 4-9% of the amount. Also, the charge some 3% processing fees and $25 wire fee for non-US campaigns.

#CrowdfundEdu

CrowdfundEdu is a website for crowdfunding for education. It was launched just this year. Yet, its success has made it feature on ABC,CBS, and Fox News. The site supports all types of education crowdfunding projects. Whether a student needs funds for tuition fees or admission or anything else. Students can use this website as a platform.

#ScholarMatch

ScholarMatch has a slightly different concept for crowdfunding for education. The donors collaborate with various organizational institutes. Then they filter the ambitious and hardworking students. And provide scholarships for their education.

#DonorsChoose

This website was founded in 2000 when crowdfunding was not even a popular term. This website allows public school teachers to post their fund requirements. And their donors like Oprah Winfrey and Stephen Colbert make sure to fulfill their requirements.

#YouCaring

YouCaring is a website for crowdfunding for education. This website does not charge any processing fees at all. However, you only need to pay the credit card processing fees. This website completely works on donations.

#Piglt

Piglt is a website for crowdfunding for education which allows individuals to raise funds for their education. The website allows individuals to post projects. Their various donors spare some amount for these projects. If the project becomes successful, the website charges a fee of 5%. Otherwise, it charges a service fee of 8%.

#IncitED

IncitED is a website just for crowdfunding for education. The creators believe that non-specific websites have no future. Thus, they have dedicated themselves to educational crowdfunding.

indian crowdfunding sites

Top 10 Indian Crowdfunding Sites 2016

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Crowdfunding is not a new name for the world. But for India, it is a newer concept. Crowdfunding is in its growing years in India. And it is gaining good popularity with time. Though India doesn’t have that much of experience with crowdfunding. Yet, there are a number of Indian Crowdfunding Sites which are even functioning globally. Here are a few most successful Indian Crowdfunding Sites.

#Ketto

Ketto is globally one of the most popular Indian Crowdfunding sites. The projects on the website focus on social causes, sports, environment, Women empowerment, Child Education, etc. The website has successfully raised more than Rs.1,00,00,000 (crore). Additionally, names like Google Grant, DASRA Social Impacts, CAP India, etc. are associated with it.

#Indiegogo

Indiegogo is one of the globally functional Indian Crowdfunding sites. This website works for non-profit causes. And it has successfully helped 15 million people from 223 different countries. Also, the website allows projects for music, education, design, films,etc.

#Rang De

Rang De is a peer-to-peer micro-lending platform. It helps rural entrepreneurs get low-cost loans with the help of various funders. A noteworthy point about Rang De is that 93% of the borrowers are women. Rang De is one of the non-profit Indian Crowdfunding sites. It has till date attracted 9,699 social investors. And these investors have made social investments worth approximately USD 7 million.

#WishBerry

WishBerry is one of the Indian Crowdfunding Sites which focuses on projects with creative niches. They have projects from the categories ranging from performing arts and music to technology and film. Though they cover a huge range of topics. Yet they have a success ratio of 70% which is fairly good.

#FuelADream

FuelADream is one of the Indian Crowdfunding Sites which supports reward-based crowdfunding. Though the company mainly focuses on projects with a creative niche. Yet, they also allow projects related to charity and social causes on their website.

#ImpactGuru

ImpactGuru is one of those Indian crowdfunding sites which supports all the 3 types of crowdfunding – non-profit, reward-based, and equity. It helps startups, NGOs, corporates, etc. to raise funds for their respective projects. ImpactGuru has successfully helped more than a 100 causes from 6 different countries.

#TheHotStart

TheHotStart is one of the newer Indian Crowdfunding Sites. Though it was just launched in 2014. Yet, it has shown some good success in the two years. It mainly deals with filming and artistic ventures. Additionally, it allows people to interact with each other. And helps them connect for a successful ally.

#Start51

Start51 is one of the Indian Crowdfunding Sites working at an institutional level. They have their own initiative program, “Crowdfunding Initiator”. They help creative ventures like dance, art, music, fashion, etc. to raise funds.

#FundDreamsIndia

FundDreamsIndia is not an independent website. In fact, it is a part of the digital web-business group Bluebiz Ventures Pvt. Ltd. However, it is not a large-scale website. But it helps people raise funds for personal or social causes and even life events.

#DreamWallets

DreamWallets is one of the Indian Crowdfunding sites which facilitates reward-based crowdfunding. Projects targeting a specific group of people are launched. And all the backers are provided with some rewards in a non-monetary way.

 

european crowdfunding sites

Top 10 European Crowdfunding Sites 2016

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In the past decade, crowdfunding has attained a lot of maturity in Europe. It has grown both quantitatively and qualitatively. More and more people have started using crowdfunding for a successful business. And more and more platforms are emerging to cater to the needs of these businesses. This increasing number of European Crowdfunding sites is beneficial for businesses. Since this is allowing them to choose a platform suitable for them. Here are the top 10 European Crowdfunding sites you can choose from.

#Funding Circle

FundingCircle is one of the European Crowdfunding Sites from the UK. When it comes to peer-to-peer lending in crowdfunding, FundingCircle is the undoubted leader. It simply connects growing businesses and potential investors. And thus, ensures profits for both. Additionally, backers have invested £285 million through FundingCircle.

#Crowdcube

CrowdCube is one of the European Crowdfunding Sites also from the UK. This website is world’s first equity crowdfunding platform. And it is the largest platform in Britain. However, this website only allows sophisticated and large-scale investors.

#FundedByMe

FundedByMe is one of the European Crowdfunding Sites functioning from Sweden. It is one of the first crowdfunding platforms which offers reward-based and equity crowdfunding. It helps the Europen entrepreneurs to receive cross-border investments.

#KissKissBankBank

KissKissBankBank is one of the European Crowdfunding Sites from France. This website is an internationally leading platform. Though a leading name, but this website only handles limited projects. However, all these projects are extremely creative, innovative and different from the crowd.

#Boomerang 

Boomerang is one of the European Crowdfunding Sites which has its base in Denmark. It is the largest platform for reward-based crowdfunding. And it helps artists, associations, and creative networks to raise funds from backers. Though there are many reward-based crowdfunding platforms. But the “collaboration through crowdfunding” feature of Boomerang makes it stand out.

#Derev

Derev is one of the European Crowdfunding Sites from Italy. It is an interactive platform for crowdfunding. Entrepreneurs can not only raise funds but also get feedback, suggestions, etc. from the backers or interested individuals.

#Companisto

Companisto is a crowdfunding website from Germany. Though the minimum amount to be invested in projects from Companisto is just €5. But its large network has successfully funded more than 30 startups. And investments worth  €6 million have been made through it.

#Wemakeit.ch

Wemakeit.ch is one of the European Crowdfunding Sites  functioning in Switzerland. It is a crowdfunding platform which helps creative industries to get funded. Non-profit organizations are also welcomed by the website.

#Goteo

Goteo is one of the European Crowdfunding Sites from Spain. Though the website supports reward-based crowdfunding. But it mainly deals with the projects meant for social good. Thus, it connects backers and projects which focus on social good like free knowledge, open code, etc.

#Symbid

Symbid is one of the Netherlands-based European Crowdfunding Sites.  The website systematically forms a cooperative bundle of all the shareholders. Thus, the company has to just deal with this bundle rather than individual investors. Additionally, this website allows backers to invest as little as €20 in some fast-growing start-ups.

 

tech crowdfunding

4 Commendable Tech Crowdfunding Projects

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It is not unknown that technology is one of the fields that has got a helping hand in crowdfunding. Tech crowdfunding has been quite popular recently. And people have been using it to the utmost. Tech crowdfunding has helped a lot of fantastic dreams come true. And the world has proudly witnessed their success. Here are a few amazing tech crowdfunding projects that have received global appreciation. Some of these were successful, while some others were not.

#Phree Smart Pen

We are the smart generation. We don’t need a pen and paper to note things down. All we do is take out our phones and type it out. But oh wait! Does that really happen? Well more often than not, it doesn’t. We forget what we were supposed to write. And the end.

That is where the Phree Smart Pen comes to help. It is a pen using which you can note down anything on any surface of the world. And the Pen would store it in its database. Cool stuff right?

OTM Technology, the creator firm, released a tech crowdfunding project for it on Kickstarter on May 12, 2015. They campaign ran for 45 days. And it managed to collect a whopping $1,065,761.

#HueRay Bicycle Grips

Cycles don’t have any headlights. This makes them more vulnerable to accidents. Quite unfair, isn’t it? The company HueRay! took this thought a bit too further. And they launched light emitting bicycle grips. These grips help you have some light around at night. They are USB-rechargeable and can also be removed when not needed.

HueRay launched  a tech crowdfunding project for these bicycle grips on Kickstarter on 29 May 2015. HueRay had pledged to raise some $90,000 for this tech crowdfunding project. However, they could just collect $25,685 in the set time. Though, it was not a successful campaign. But the idea of the project did receive a lot of appreciation.

#MIITO Eco-Friendly Kettle Alternative

Another amazing tech crowdfunding project was released by a company called MIITO. They released a glass-topped induction base meant for teacups or teapots, with a silicon-coated steel heating rod which is immersed in the liquid to be boiled.

The company claims that it is an “energy saver”. Since when you want just a glass of water, you can boil it within a minute with the MIITO kettle. While a regular kettle would take almost three minutes to heat up. This makes it an energy saver and an overall better choice.

The concept of the MIITO Kettle was well received. Also, the company managed to raise a lot with tech crowdfunding. MIITO launched their campaign on Kickstarter on 12 May 2015 for a period of 32 days. They had pledged a goal of €150,000. But since the concept was extremely well received, the company managed to gather a whopping €818,098.

#Flip! Intuitive Smart Stylus

Flip is an intuitive stylus which needs no batteries, no Bluetooth. It has a lot of features like “flip to erase” and  “palm rejection”. In short, it gives you the features of the stylus without the complexity.

This idea is greatly appreciated. Its campaign is currently running on Kickstarter. The company had pledged a goal of $7,500. With 22 days to go to the deadline, the tech crowdfunding project has already raised $69,061.

Crowdfunding and Social Media

Crowdfunding and Social Media – The Bond of Profit

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Crowdfunding is a name no one from the business industry needs an introduction to. While social media? It has simply become an important part of our life. While a layman can see no connection between the two.

But an entrepreneur can clearly see the relationship between crowdfunding and social media. In today’s internet era, this relationship can be very useful. If used efficiently, crowdfunding and social media can together create hundreds of success stories. First of all, let us understand the relationship between the two.

Crowdfunding and Social Media

Crowdfunding means raising money with the help of crowds for specific purposes. Though the definition seems quite simple. But its application is equally difficult. It is really a task to convince people to give out some money. Even in the case of equity crowdfunding. You have to convince them that your company is trustworthy. And only then you can see some results.

Here is when social media comes to your rescue. Social media is a platform where you can communicate with thousands of people at a time. One tweet, one status update, one picture! And your message can reach to thousands of people. And out of these thousands, even if a few hundreds get convinced with your campaign then too, it is a great number. Here are a few tips on how you can use crowdfunding and social media together.

How to use Crowdfunding and Social Media together?

If you use social media for your crowdfunding campaign, you can actually make it a huge success.

  • Find the right platform – Social media is vast. There are a lot of platforms of it. But when you want to use crowdfunding and social media together, you have to choose the perfect platform. Before starting the campaign, analyze the different platforms. Choose the one which is most used by your target audience.
  • Use a campaign hashtag – The best way to make people aware of your campaign is to use a campaign hashtag. Choose something catchy and make it trend.
  • Content Marketing – Social media is the best place to use content marketing. But when using crowdfunding and social media together, you have to take care of something. Make sure that your content is a proper blend of useful content and information about your company. It should be in a ratio of some 75:25.
  • Let your weeks have a theme – Instead of randomly posting any content on your social media, assign themes to different weeks. And then post content following just that theme.

How NOT to use Crowdfunding and Social Media together?

Though social media marketing is beneficial for crowdfunding campaigns. But there are some things you should never do when using crowdfunding and social media together.

  • Never ever ask for money straight away. Let your followers first know you before. Let them trust you first before you ask them to be your backers.
  • Choose who you are connecting with. Everyone on social media is not your potential investor. If you connect just with wrong people, then your purpose of using crowdfunding and social media fails miserably.
crowdfunding failures

4 Infamous Stories of Crowdfunding Failures

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Crowdfunding is a boon as we all say. It has helped many businesses flourish unexpectedly. It has helped many people grow and many many dreams come true. However, one thing which no one ever mentions while discussing the topic is, crowdfunding failures. Yes. Though there are many people out there who would tell you the benefits, tips and tricks, etc.

But no one will mention the crowdfunding failures. People sometimes think that it is disheartening or demotivating. However, in reality it is not true. You don’t need to get demotivated. Instead, you can learn from the mistakes those campaigns made. And thus, ensure that you do not repeat any such thing. Here are the most infamous stories of crowdfunding failures. Have a look at them. And you will learn a lot!

#Laser Razor

Laser Razor is a product which was launched by a company named Skarp. It has been one of the biggest crowdfunding failures. The company approached Kickstarter to launch their campaign. However, Kickstarter turned it down. Because the company did not even have a proper working prototype for the product.

Thereafter, the company approached Indigogo and relaunched its campaign. The “innovative” Laser Razor idea, managed to collect some $442,000. However, the company has already delayed the shipment dates. The reason behind this is probably that they did not have a functional prototype. And their device can hardly cut a hair or two.

#Crystal Wash 2.0

If you ask how much money it raised? Well, then it is not a failure in that sense. It managed to raise $268,000. But this is regarded amongst crowdfunding failures because it shows how companies like Kickstarter too can be careless about the quality of products they have.

This product is something really bizarre. It says that it can clean clothes by shrinking the water molecules crystal. This statement in itself is the most meaningless thing ever. Backers are complaining because they are not receiving the product. And the company is not even replying to them.

#Annihilator Customizable Car

Crowdfunding failures are quite common in the business world. Many campaigns either fail to impress or fail to deliver. However, this customizable car crowdfunding campaign was something out of the world. This campaign asked to raise a million dollars for their “car”. However, the theory of the car they portrayed was something too good to be true.

Most reports claim that this was some stupid joke. But it is quite bad for the people who did trust it and even fund it.

#Zano

Kickstarter has more often than not launched some crowdfunding failures. However, the Torquing Group’s Zano was the most embarrassing of them all. The Zano was meant to be a flying little baby drone. Though the idea was really successful and appreciated. It even managed to raise $3.4 million. But when the customers actually tried to make that thing fly, it never did.

The company declared itself bankrupt. And ended up being one of the biggest crowdfunding failures ever.

Crowdfunding failures in this industry are quite common. However, it doesn’t mean that crowdfunding is a bad idea. All it means is that you need to be more careful.