Tan, Yee Heng, and Reddy, Srinivas K. (2020) Crowdfunding Platforms: Ecosystem and Evolution. Foundations and Trends® in Marketing, 14 (2). pp. 53-172.

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Abstract

Crowdfunding is the practice of seeking support from a large number of backers, each funding a small amount, in order to reach a specific funding goal. This monograph examines: (1) the field of crowdfunding, (2) how it has evolved, (3) the impact crowdfunding has on the fields of innovation, marketing and finance and (4) the factors that can affect crowdfunding outcomes.

We view crowdfunding as complementary and transformative, increasing the efficiency of several existing processes such as idea generation and testing, fund raising and collection. We combine practitioner perspectives and research findings to provide insights on this subject. We explore the crowdfunding ecosystem and the role that project creators, backers and the platform play in the entire crowdfunding process.

We provide a comprehensive review of current academic research in crowdfunding that focus on three key components of the crowdfunding process: (1) project design and description, (2) project creator and backer characteristics and (3) platform design and architecture, and explore how different properties of these crowdfunding components impact the crowdfunding process and affect crowdfunding outcomes.

We further provide an overview of new developments in crowdfunding (such as new crowdfunding models) and suggest trends (such as privacy issues) that may shape the crowdfunding ecosystem in the future.

Item ID:	83340
Item Type:	Article (Research - C1)
ISBN:	978-1-68083-698-1
ISSN:	1555-0761
Copyright Information:	© 2020 Yee Heng Tan and Srinivas K. Reddy
Date Deposited:	03 Dec 2024 22:16
FoR Codes:	35 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 3506 Marketing > 350607 Marketing technology @ 100%
SEO Codes:	11 COMMERCIAL SERVICES AND TOURISM > 1102 Financial services > 110201 Finance services @ 25% 28 EXPANDING KNOWLEDGE > 2801 Expanding knowledge > 280106 Expanding knowledge in commerce, management, tourism and services @ 75%
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