When you want to raise money for a new business idea you have in mind, you might consider using sites like Kickstarter. These crowdfunding sites give investors and normal people the chance to donate money to ideas and get something in return. You might give your investors free products or discounts on future purchases. There are now sites like Fundrise that help you learn about new programs and decide which ones to invest in to make extra money. Before you put your own idea online or invest in new projects though, you’ll want to check out some of the most successful campaigns in history.
Though many people think of Apple when they think of smart watches, one of the first to ever enter the market was the Pebble smart watch. Pebble Time launched a campaign on Kickstarter in 2015 and received more than $1 million in donations in under an hour, which is a site record. By the time its deadline ended, the company raised more than $20 million and received donations from more than than 78,000 investors. The campaign was so successful that Pebble released a second smart watch later.
While Coolest Coolers is one of the most successful crowdfunding campaigns of all time, it’s also one of the most controversial. This cooler, which the company raised money for on Kickstarter, features a port for charging devices via USB cords, a bottle opener, speakers, lights and tons of accessories for cooking and preparing dishes. Time Magazine named the cooler one of the top inventions of the year, and the business made more than $13 million. Controversy arose after some investors did not receive their coolers, even after waiting more than three years.
A decrease in the number of bees in the world led to a number of people wanting to create their own hives. The makers of Flow Hive wanted to create an easier way for those owners to remove the honey that they needed. They designed a hive that collects the honey produced and allows owners to extract the liquid from the hive. Flow Hive is the most successful Indiegogo campaign of all time. Launched in 2015, the owners hoped to make $70,000 and instead made more than $12 million.
“Super Troopers 2”
One of the more unique products advertised on crowdfunding websites was the film “Super Troopers 2.” Broken Lizard, the comedy group behind the first film, attempted to find a production house willing to work with them on the sequel but found no success. They turned to Indiegogo for help raising the $2 million needed to make the film and hit more than $4 by their deadline. Those who donated received free tickets to screenings of the film as well as access to videos posted by the comedy group online. The group made more money than any other crowdfunded film in history.
Before you decide to look for people to invest in your idea online, you should read some reviews. Reading Fundrise reviews, for example, shows you what to expect when you accept a donation or make your own investment. Crowdfunding websites helped people just like you turn their business ideas into fully functioning companies and helped them get millions in investments.