Shebah, an Australian women-only ride-sharing startup has successfully smashed its target of raising $3 million over its month-long campaign. With this event, it has broken the record for the most amount raised under Australia’s new equity-crowdfunding regime. Women in action. Slaying, right?

McEncroe says, “Just stoked, delighted beyond words. I’m so relieved and amazed, and I feel really supported, and also a bit daunted. I’ve got pressure now from investors, and I’m aware of their commitments and expectations, and I take that responsibility very seriously.”

She further adds, “I’ve bootstrapped for so long, so to have a force and endorsement from so many people is not just a shot in the arm in terms of capital, its confidence that what we’re doing is valuable. I don’t want to disappoint anyone, so we’ll be working bloody hard to make sure we deliver.”

Highlights of the crowdfunding campaign

– The campaign: Shebah is putting the ‘share’ in rideshare, was backed by 2,100 awesome investors, with 94% of them being women.

– Shebah’s campaign broke the record of local neobank up-and-comer Xinja which raised  $2.6 million.

Matt Vitale, co-founder of Birchal that facilitates equity crowdfunding in Australia said, “We’re so thrilled that Shebah now holds this record. Shebah’s founder George McEncroe and her team are brilliant ambassadors, and a perfect case study for what is possible under the equity-crowdfunding regime in Australia now.”

McEncroe did it and so can you.

McEncroe says, “I was hoping we’d hit the $3 million mark, but I didn’t dare say it out loud. I have so much thanks for everyone who believed in our vision.”

Sources: 

Women-only ride-sharing startup Shebah bags $3 million in biggest-ever equity-crowdfunding raise

Main Image: ©Shebah/This Women Can

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It’s not a new concept! Memorials and worship places have been funded and built in by small donations for years. In the recent years Indian startup story has witnessed more twists than before. If you are also a part of this startup story, crowdfunding can be the way of connecting investors and bring your story to life.

Here’s that how does it work?

Selecting the project and building a story

Launching a new product or starting a campaign should be specific with a perceived outcome. Your campaign should be time bound. Try to make a complete story that would appeal people to contribute in your product. Make them understand why your project is unique and what problem you are solving that will compel your potential backers to fund you.

Mount a funding budget

Set up a specific budget you need and be clear where it will go. Be precise about meeting up your targets as it allows the investors to know the licitness and credibility of your project. It shows that people have been interested in backing up your project,

The budget should include the commission fees of your crowdfunding platform and the reward budget.

Choosing a Platform

It is the one of the most important and crucial step in launching your crowdfunding campaign. It depends upon what type of project you are launching and what your goals are. There are loads of platforms to decide from such as Milaap, Indigogo, Catapooolt etc. which offers you a good stuff of audience.  You need to decide between:-

Reward and donations based – Offering ‘rewards’ and perks for your backers is always good. You could give them gifts and perks based on how much contribution people pledge.

‘All or nothing’ or ‘Keep it all’- Some platforms keep the rule of ‘ All or nothing ‘ where if you don’t meet your target you will have nothing. And platform like Catapooolt offers you to get all the money minus their fees, even if you fail to meet your target.

Prepare a pitch and promote your campaign

Prepare an overwhelming pitch about your campaign telling who you are ,what’s your idea, why you started that will revoke the interest of your potential pledgers. Have an impressive pitch video catering a personalized strife to the viewers. You have to make people informed about your crowdfunding campaign. Create a coordinated online social media campaign with the help of your crowdfunding platform. Reach out to media and people to have more coverage to your campaign. Encourage them to back up your campaign by hosting an event or through any other engagement. It is not easy to arouse people’s interest unless you give your full commitment to your campaign. Be passionate enough to turn your dream into reality.

Follow Feedback

It is your backers which helps you to climb the mount. Taking your customers feedback seriously is really significant. Getting reviews and making improvements is essential before launching the campaign. Keep in touch with your supporters and keep them modemised about your progress. Thanks them and let them feel that their contribution is making a difference.

Its time to capitalize your venture and let your business grow through crowdfunding. The arise of crowdfunding has provided an alternative to traditional ways of funding. It is an effective way to help entrepreneurs in reaching their dreams. The increasing social media trends inculcates perfect conditions for crowdfunding as a fundraising tool to prosper in the capital market. So fund your project and go crowd out loud!

The post What is Crowdfunding and how does it work? appeared first on Desiredwings.

“Crowdfunding is creating a new public demand which connects common people with investment opportunities that used to be accessible only by the very wealthy.”

And there is no doubt or secret to the intricacies of investment that crowdfunding has aid to small businesses or the newbies of the startup world by connecting them to the common public for raising capital. Crowdfunding simply means, getting funds from a large number of people with the usage of the internet and an online social media platform. The inception of this modern day crowdfunding dates back to 1997 when a British rock band funded their reunion tour through online donations from fans. Since then, crowdfunding has taken many forms and has emerged as one of the most effective options for entrepreneurs and other project initiators to validate their ideas.

So let’s understand some of these different dimensions of Crowdfunding and gets penetrate about them:-

1. Reward-based Crowdfunding

This model of crowdfunding is mainly used by startups who want to accelerate the pace of their initiative and by other projects of artists or film producers, software development or civic projects etc. Reward crowdfunding is based on the perks or rewards a potential backer gets in return of the investment made by him/her. Rewards can be in the form of product or service, he/she is backing up or any other rewards mentioned in the campaign prior. It is a lucrative method to raise funds as donors donate in the expectation of return. The rewards are differentiated on the basis of backers contributing smaller amounts and the ones who cater gratitude.

Following perks can be rewarded to the potential patrons:

• The backers who contribute less than rs.500 can be revert back with the recognition through the way of a ‘Thank You’ note or a gift card or simply by thanking them personally on the campaigner’s social media page. Make them realize that their every effort is worthy of a count.
• Contributors can be rewarded by services like giving them a discount, or some smaller reward tiers like shout outs or exclusive t-shirts.
• An effective way of rewarding is pre-orders. Backers will back up in the expectation of availing the product they are contributing their money for.

Companies like Catapooolt, Kickstarter and Indiegogo have emerged as the best reward-based crowdfunding platforms of India and are helping hundreds of startups gaining funds for various causes.

2. Equity-based Crowdfunding

SEBI (Securities and Exchange Board of India) regulates the rules regarding Equity Crowdfunding and has made it illegal in India. In this model of Crowdfunding, the backers are termed as ‘investors’ because they invest their money into the company for an amount of share in it on the basis of capital invested. Primarily, these investments are made in companies with the goal of making a return in 5-6 years.

Usually, a large amount of capital is raised through this model and not the smaller ones. This amount is mainly for either launching a company or taking a big leap, not just for backing up a cause. In India, such funds are raised through an angel investor or a VC for a startup. We have been using other forms of crowdfunding that is reward or donation based, so if you want to raise the capital you can avail the advantages of crowdfunding through platforms like Catapooolt for ensuring a swift capital coming in your way.

3. Debt- based Crowdfunding

Also known as ‘Peer-to-Peer Crowdfunding’ or ‘Crowdlending’ is a model based on the process in which investor invests in your project in return of the ‘interest’. Money lent by multiple investors in small amounts through the internet is called Debt-based Crowdfunding. It is somewhat similar to loan except that in crowdfunding, the loan is borrowed from a number of investors in small amounts rather than from a single bank. Debt Crowdfunding has an edge over bank loan because of the interest rates being lower and funds can be garnered with ease by reaching among the masses at the same time.

It can be an optimum method for businesses that might get failed to raise loans from banks. But as the saying goes, nothing comes exquisitely. The drawbacks faced by debt-financing are the regular interest payments and the security that companies have to pledge against their assets. Thus, it may be suitable for companies who have already established venture and adequate assets or sufficient cash flow credibility.

A Quick Collation

A major asset that Debt Crowdfunding has over an Equity Based Crowdfunding campaign is that the campaigner doesn’t have to lose any share in its company. Thus, investors are serviced only with the profit share and the owner continues to enjoy his ownership. Equity Crowdfunding is illegal in India. Therefore, for newly established ventures, an imperative option can be to go for the reward and donation-based models of crowdfunding. Whatever the model you choose, just go dig well before in the advantages and disadvantages it chalks up.

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Mark Cuban called the idea crazy whereas another Shark Tank judge, Kevin O’Leary, said the founders were out of their minds to make a product that claims to be reusable. He asked them how did they intend to make money with such a product. The question was why would anyone buy it again if it is reusable?

Today, the Rocketbook Everlast is Amazon’s best-selling wire bound notebook. How did they do it? They did it with crowdfunding. The company has shipped more than 75,000 notebooks to its crowdfunding backers and their customers.

That’s it. I know it is hard to believe, but I promise you, it is all true and happened here on Earth. Go watch their Shark Tank video. When you are done with it don’t forget to read ahead because here are our top 10 hacks that will help you crowdfund your campaign like a rockstar. Are you ready?

Here is the ‘After the tank’ video.

1. While launching your campaign, set the automatic contribution amount to INR 2.5k instead of zero.

When you do this, it increases your chances of raising a bigger amount quicker. Keep INR 100 as an option as well. This will help them show their support and appreciation for your project. They might not leverage the reward benefits but they would be the ones who would bring more contributors from their circle.

2. Surpass the progress bar.

For a moment, just think of yourself as a potential contributor for a random project you saw on a crowdfunding platform. Would you just like that put your money into it? Most probably, no. A stranger doesn’t do that but people in your friend circle and near ones would. So, how do we make strangers contribute? The answer to this is to pass the contribution progress bar which usually lies between 20% to 30%. Your job is to get your project funded in between that range from your near ones as quickly as possible. They will be your early adopters and so will pave the path for others as well.

3. Leverage the power of bloggers and influencers.

Do you ask why? They are the people with huge numbers of followers and whom people believe in. Isn’t that what you were looking for? Way before you launch your campaign, start getting in touch with influencers who represent your domain. Build a relationship and ask them for a favour or their services. Make them understand your project and then see the magic. Also, don’t get so choosy with follower numbers, whether it is 5k or 500k, all would do.

4. Email marketing is no underdog.

When it comes to crowdfunding campaigns people often take it as the underdog of marketing. Well, as per Indiegogo, the first 30% of your funding goal can be achieved by the people who are passionate about your project and would also email their networks on your behalf.

You can also ask for a favour from people close in your network to share their email contact list. The bigger your email list grows the nearer your crowdfunding goal seems. Also, do not forget the timely follow-up job. After all, it takes 6 to 8 impressions to generate a viable sales lead. 

5. Social media hacks.

After you have successfully launched your campaign with an awesome pitch, backstory and video content and have also surpassed the contributor’s progress bar it is to time go godspeed. Do proper research about your customers and demographics. Get the help of social media experts and go for paid marketing. A few bucks won’t hurt when you will see the buzz it creates and profit it brings in. Export all your contacts from your social media profiles and add them to your email list.

Here is how you can download your Facebook contacts.

6. Engagement is the key.

As soon as you have launched your campaign and are done creating the buzz with the help of your social media outreach, you should not miss the chance of carefully listening and engaging with your potential backers. On one hand, you get their instant feedback on your campaign and on the other hand, you will see many requesting for adding this or that to your product or service. You might get leads for your next product and they would be the one gladly waiting for your next product launch. Hence, engagement is the key. Make each and every one of them feel special.

7. Gamify your rewarding game.

Rewarding your backer is the sweet spot where you would want to hit. It can make them click on the ‘contribute’ button almost instantly. It could be as simple as merchandise or as special as the passes to your live event. Try to make it an experience for them to cherish and something cool which will make them flaunt it on their Instagram profile. I hope you got the idea.

8. Go live on Instagram

While the campaign is still in progress share the progress of your product prototype or how excited are you for achieving half of your goal. Get your creative juices to work. Go live on Instagram with your influencer friends using “Go Live with a Friend” feature. You got to create your own buzz.

9. Give an option of ‘Refer to your friends’

Referrals might seem like an old hack but it still hasn’t lost its charm. Gamify the referral game and you never know when it might go viral and make you feel like you have hit the jackpot.

10. Attend events and attract several eyeballs for your campaign.

The last but not the least, go local. Approach anyone in your network where you feel you can showcase your product and get lucky. Attend relevant events and talk to people about your campaign. This is how you get people talking and you know, people bring business.

Other than that you can create your own comic series and share it on social media channels, opt for mentor consultancy, or go for a press release. Do not forget to embed multiple payment options and make it super easy for your backer to support your campaign.

Conclusion:

No jargons, no repetitions. I know you are smart folks and have remembered it all. Just remember, what Elon Musk had to say, “When something is important enough, you do it even if the odds are not in your favor.

Let me know what do you think of the above points. Criticise it, or ask questions if you think I can answer them. Let’s have some intelligent conversation. Over to you.

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Don’t tell me you wouldn’t want to get your hands on a mystery letter if you had a chance. Are you that sane? That pretty hands? I hope not. Mysterious Letters thinks the same. I mean the bunch is crazy. Crazy enough to change the world. This is how they rewarded their backers on their Kickstarter campaign launched in 2009. It is ugly, it is insane but it is beautiful. If you are anything like me, you would not want to miss on their letters.

Pledge $24 or more: You will receive a unique hand-written postcard composed whilst we were sober, clear-headed and utterly focused on the task.

Pledge $25 or more: You will receive a unique hand-scrawled postcard written while we were drunk, which we’ll regret horribly by the time it arrives.

©Mysterious Letters

Now, don’t you think that is some awesome marketing hack? I believe it is one. Some of the rewards on your campaign must give an adrenaline rush to the backer. Isn’t that what we all miss and crave for? Give it to them. Give it to them right away.

Here are few crazy, sick, sober and killer reward ideas that you can experiment with. I insist. No? Ok, never mind. I am stubborn. You, do it.

1. Let your backers get involved and have a say in the outcome of your product.

If you are working on a product, send them a spare or broken part of it as an acknowledgement of their participation and support, throughout the product journey. Share the ups and downs of your struggle. This way you will pave a path for them to emotionally invest in your product and they would be eagerly waiting forward to your updates. In short, give them an experience of ownership and by then you would have added some of the most loyal customer, friends, bloggers and evangelist in your circle who would be more than happy to share your crowdfunding campaign on their facebook or twitter profiles.

You can invite your premium backers for a visit to your office, for a meal or a coffee with your team and make them feel special. Try to make it an experience which they would love to share with their friends and family.

2. Let them flaunt that cool beanie you will customize especially for them.

©Cross RodAce

Show your love by spoiling them with some wearable art craft, headwear, mugs or Bobblehead dolls. Do you want me to vouch for Bobblehead?

Want to make it even more special? How about wearing a T-shirt with their face or a caricature on it during your campaign launch or a related photoshoot?

©Tiki Shark

3. Give a literal shout out to your awesome backers at the launch party or on social media.

Represent them as a part of your team. Follow them on Twitter and Instagram. Give them the credit for their support.

4. Share your 101 expert tips and tricks or organise an online workshop for the same.

©Everything Sherlock

Now, this could be anything from growth hacking tips to Ukulele lessons. You can also share code keys so your backers can hack away.

5. Scavenger hunt! Sounds good?

Why not organize one for the backers in your city? Set the rules for finding rewards, meeting the creators, and then having a kickass party at the end!

6. You can send handwritten postcards from rest stops on your tour.

©maplepostblog

Suppose if you are going for cross country concert trip or to raise funds for a cause, you can always send personalised handwritten postcards to your backers from the rest stops on your tour.

7. Throw a surprise party.

©Green Hat Films

You can go for a house party with some unique theme. Throw a pizza or taco party for your premium backers. This is it. You gotta do it.

8. Customised memes for the backer’s pet.

©Green Hat Films

You can create a set of personalized memes of a backer’ pet. You can also experiment with instant polaroid shot images for them. An instant photoshoot. Won’t that be adorable? They will love you for making things so special for their loved ones.

9. Make them Personalised Infographics.

©adioma

You can create a scintillating infographic, especially designed on the timeline of the backer. Here is what Anna Vital, founder of Adioma and Information Designer did.

10. Backstage passes.

©Merchsupply

Who would want to miss an opportunity to meet the artists in person and party with them? Backstage passes are the real deal.

So these were few killer reward ideas to get your backers kill that pledge button. I am planning to make one more list, so don’t forget to share your ideas in the comment section. Let your creativity unfold.

The post 10 Killer Reward Ideas To Make Your Next Crowdfunding Campaign A Massive Hit appeared first on Desiredwings.

The funds raised through this campaign will be used to pay for free theater screenings of “Captain Marvel” for young women and girls. ‘Send Girls to See Captain Marvel’ campaign has already hit $61,000. Do you know what is the amazing thing that has happened? The target hit is three times its original goal and is still counting.

NBCUniversal’s E! News and Ellen DeGeneres’ “The Ellen Show” each donated $ 10,000. Oculus co-founder Brendan Iribe also donated $2,500 taking the donors tally to 1,170.

With DC’s Wonder Women release, gone are the days when female superheroes were considered a rare exception rather than a norm. Birds of Prey will be DC’s second female superhero movie which is bringing back Suicide Squad’s Margot Robbie as Harley Quinn.

The #CaptainMarvelChallenge crowdfunding initiative has been organized by We Have Stories in partnership with Girls Inc. of Greater Los Angeles, which serves girls in Title I schools in South Compton, Los Angeles and Watts. These are the same guys who were behind the tremendous success of #BlackPantherChallenge, which successfully raised more than $1 million. Isn’t that a staggering number? That campaign provided free screenings of “Black Panther” for 73,000 children. Amazing right?

We Tell Stories and Girls Inc. LA says, “Everyone should have an opportunity to see women in roles they can aspire to one day be, roles that show women as strong, smart and bold. From a teacher to a fighter pilot — or a superhero. This is an opportunity to continue to empower girls to be just that.” A supercool step towards women empowerment.

Funds collected through the campaign will help rent out theaters for “Captain Marvel” showings and to purchase tickets, ie. free tickets to nearly 2,000 kids. If we look at the cost break down, it will cost $13 per child ticket, $17 per chaperone ticket and $13 in refreshments per child. Additional funds raised shall go toward We Have Stories and Girls Inc. LA to support different programming efforts.

Sources:

‘Captain Marvel’ Crowdfunding Campaign to Hold Free Theater Screenings for Girls Tops $60,000 – Variety

Send Girls to See Captain Marvel – gofundme

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This is what happened 

Two men entered the store and within a minute or so walked out the front door wheeling a Specialized S-Works Epic valued at $10,000. Thereafter they put it in the bed of a GMC Sierra pickup driven by a woman.

Dominic Galenti, InCycle’s co-owner, witnessed it all.

Dominic said, “Megan saw it and ran after them. I don’t know what she was doing. She’s 4-foot-9, and she tried to jump in the car to stop them just like a little pit bull. They pushed her out and she was dragged and then literally run over by the rear wheel of the truck.”

In the mean time, fellow manager Raul Ureno jumped into a car with a customer and pursued the truck. Raul retrieved the bike from the truck bed when the truck got stuck in traffic but was not able to break through the windows.

Megan suffered a broken hip, ribs and thumb, foot, a fractured skull and a concussion. The thumb and foot injuries required surgery and so to help with the medical expenses a crowdfunding campaign was launched where people showered their love for Megan.

Dominic said, “People interested in donating to the crowdfunding campaign for Rodriguez can search for “The Mighty Megan Rehab Fund” on GoFundMe. The campaign hit its crowdfunding goal of $25,000 within a day.

Domnic futher added, “It’s going to be a long process for her and she’s in a lot of pain, but she’s so tough. The first thing she said to me is how is everyone doing, and did we get the bike back. Her spirits were so good for all she’s been through. It’s amazing.”

Dominic has also offered a $10,000 reward for anyone who comes forward with information leading to the suspects’ arrest.

Sources:

Crowdfunding campaign benefits store manager run over in theft attempt – Bicycle Retailer

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As per the Election Commission of India, the permissible expenditure limit for Lok Sabha elections is Rs 70 lakh. Atishi Marlena, AAP’s East Delhi parliamentary seat in-charge, is betting big on this and has already launched a crowdfunding campaign on Wednesday, 6 February, which has successfully raised Rs 19 Lakh. As per the party leaders, the campaign shall continue online with a target to raise Rs 70 lakh.

AAP has nominated in-charges on six of the seven Lok Sabha constituencies in Delhi. They now are expected to be soon declared as the official candidates of the party in the upcoming elections, reported PTI.

Yashwant Sinha, Javed Jaffrey and Jignesh Mevani are some of the early contributors among others.

Yashwant Sinha, former Indian politician tweeted a video appreciating, “Atishi’s efforts have dramatically improved the condition of Delhi’s government schools. Someone like her needs to have a voice in Parliament. I appeal to the people of East Delhi to vote for her and elect her to the Lok Sabha.”

Delhi Dy CM @msisodia's ex Advisor @AtishiAAP has been instrumental in transforming Delhi's govt schools, and will contest the Lok Sabha election from East Delhi. People like her need to be in Parliament! आतिशी जी को मेरा पूरा समर्थन है! #ISupportAtishi https://t.co/8PWNujUK5d pic.twitter.com/ELpm57vbKV

— Yashwant Sinha (@YashwantSinha) February 6, 2019

A short film showing Atishi’s efforts towards bringing about change in Delhi’s government schools as the former advisor to Education Minister Manish Sisodia was also released as a part of the ongoing campaign.

Do not miss this short film on @AtishiAAP's story of making change happen in Delhi's government schools.

Atishi needs your support in the 2019 Lok Sabha election. Will you invest in India's future? #ISupportAtishihttps://t.co/ZpbfuUgLiQ pic.twitter.com/UK05uRmg9I

— AAP (@AamAadmiParty) February 6, 2019

You can witness the support Atishi is getting from the crowd with  #ISupportAtishi on Twitter.

Fundraising in politics is the new sexy

Aam Aadmi Party ran a successful crowdfunding campaign called “Donate to AAP” in 2015,

BJP had also launched a micro-funding campaign through the NaMo app in October 2018.

In the recently concluded Karnataka elections, Congress too crowdfunded its campaign for a candidate from Molakalmuru.

Sources:

Ahead of 2019 Elections, Atishi Marlena Begins Crowdfunding Drive – The Quint

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@World Economic Forum

Today, where women empowerment is a highly sensitive and talked about topic, crowdfunding seems like one exception where women have innate and better hold over men. As per a 2016 research conducted by Ethan Mollick of Wharton School of the University of Pennsylvania and Jason Greenberg of NYU, shows that even though less than 8% of all VC backed companies have women co-founders, still women are 13% more likely to succeed in raising money on Kickstarter than men. They concluded that it is the support of other women, backers desire to help a community and their acknowledgement of female project creators operating in a male-dominated space are some of the factors that favour women in crowdfunding space.

As per yet another study conducted by crowdfunding platform Pledge Me Six, came out some intriguing facts addressing to the rising women success ratio in crowdfunding space as compared to man. Anna Guenther, founder of Pledge Me Six said, “half of the entrepreneurs who were seeking funding through her platform had female founders.”

Adding more credibility to such studies, Donna M. De Carolis, dean of the Charles D. Close School of Entrepreneurship at Drexel University says, “Women tend to be better conversationalists than men so they are able to better connect with the audience.”

To strengthen the facts stated above, let’s take the clock back to 2016 when Andreea Gorbatai, an assistant professor with Haas’s Management of Organizations Group, and Laura Nelson of Northwestern University’s Kellogg School of Management, published a paper, titled, “The Narrative Advantage: Gender and the Language of Crowdfunding.” The paper was concluded with an understanding that women are better at telling a story that resonates with potential investors when it comes to crowdfunding.

Andreea and Laura noted, “Online fundraising settings pose an interesting empirical puzzle: women are systematically more successful than men, an outcome contrary to offline gender inequality. We propose that this outcome is partially explained by linguistic differences between men and women in terms of the language they use, and … results support our theory, suggesting a link between micro-level linguistic choices and macro level outcomes: the institution of crowdfunding may reduce gender inequalities in the fundraising arena by benefitting the communication style of women.”

@Desiredwings

Now, even though crowdfunding platforms, digital marketing and social media have levelled up the playing field for women and men alike, it is still not all roses. Women centric crowdfunding platforms like iFundWomen, Desired Wings, Woomentum and more are making and witnessing this rise. The National Women’s Business Council report noted that, on Kickstarter, the average funding target for women was $14,552 per campaign whereas men outraced women with an average funding target of $20,282, which is a clear indication of risk aversion by women entrepreneurs. They need to believe in themselves and we all need to support them. That’s only human.

Main Image: ©Walt Disney Pictures

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