- Adam Chapnick, Principal at Indiegogo – together with Kickstarter , the most popular commercial crowdfunding portals for entertainment producers, startups, and entrepreneurs to raise money from the crowd.
- Clark Benson, CEO of Ranker.com, – provides top 10 lists for (practically) everything, as voted by the crowd.
- Chris Rising, Principal at real-estate crowdsourcing company Rising Realty Partners, deals in real estate crowdfunding, crowd-ownership of property.
- Greg Lucas, Founder of Creative Allies – where the crowd votes for designers’ items that will make it to stores, and
- Shaun Abrahamson, Founder of Mutopo – a marketing firm that heavily uses the crowd for brand strategy and product design.
The Wisdom of the Crowd and Profit in Big DataL.A. Tech & Media Law Frim Tweet @LATechLawThe crowd isn’t always right in marketing, product design, and advertising for small businesses, tech startups, fortune 1000s, and entrepreneurs…but the crowd is an ally. Ad agencies on Madison Avenue have long valued data from the crowd, using focus groups to pre-test new products and ad campaigns for decades. Hollywood studios routinely pre-screen feature films and sometimes edit them before a nationwide release. Washington D.C. politicians infamously (over) rely on voter polls, and more recently scientists at MIT are using the crowd to map the brain and solve the mysteries of protein folding. There’s value in the crowd.On Indiegogo, where thousands of small businesses, startups and film producers seek funding for projects, principal executive Adam Chapnick says “the crowds on our site become paying brand evangelists for your product or project.” I agree. If an entrepreneur or producer is seeking funding from an equity investor or strategic partner for a venture, pitching an angel investor or raising venture capital, or looking to work with a startup incubator, support from the crowd is a strong form of market validation for fundraising and sales. When it comes to making something people want listen to the crowd.This panel illustrated 5 companies’ brokering in the crowd’s wisdom in different verticals of industry, either using it or delivering it to their customers who are companies or entrepreneurs tapping into the power of the crowd.If you are:
- Launching a technology startup with a product, website or mobile application idea and are looking for initial funding or Series A financing, coupled with an enthusiastic market base;
- A passionate feature film, documentary, or web content producer, looking for production or post-production financing; or
- A major brand working on product differentiation and new product launches…
Author: David N. Sharifi, Esq. is a Los Angeles based intellectual property attorney and technology startup consultant with focuses in entertainment law, emerging technologies, trademark protection, and “the internet of things”. David was recognized as one of the Top 30 Most Influential Attorneys in Digital Media and E-Commerce Law by the Los Angeles Business Journal in 2014. Office: Ph: 310-751-0181; firstname.lastname@example.org.Disclaimer: The content above is a discussion of legal issues and general information; it does not constitute legal advice and should not be used as such without seeking professional legal counsel. Reading the content above does not create an attorney-client relationship. All trademarks are the property of L.A. Tech & Media Law Firm or their respective owners. Copyright 2013. All rights reserved. Ox photo is in public domain, Wikicommons.