Social Media Association meeting – Crowdfunding

The speaker at today’s meeting of the Long Island Social Media Association was John Murcott of Karma411. He spoke about “crowdfunding”.

In case you are not familiar with the term, crowdfunding is a way to “raise money from the crowd”…the collective effort of individuals who network and pool their money, usually via the Internet, to support efforts initiated by other people or organizations. It started with nonprofits to support their fundraising efforts, and then was brought to mass market by Obama in 2008.The latest trend is to leverage the same concepts for companies (Kickstarter is an example).

Murcott is launching an event management program by which fundraisers collaborate with Eventbrite to create personal individual and team pages, raising money and awareness for causes.

It’s an interesting concept, which appears to be gaining acceptance. I’ll follow Murcott’s venture with interest.

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