Making Sense of the Crowded Space of 700 Crowd Funding Platforms
In a recent Forbes article, Devin Thorpe pointed out that there are around 700 crowd funding platforms globally. It seems that new niche platforms are being created every day for a specific industry, region, or demographic. The sheer number of platforms out there overwhelms people who are trying to raise money. This explains why so many are flocking to the more established platforms that have a brand and reputation like Kickstarter, IndieGoGo and RocketHub. Unfortunately they may not be the best possible platform for everybody. Some smaller platforms may offer rates that are more suitable for one’s budget, customer experience that fits more to one’s expectations, location-based funding or have a more specific market of investors. Finding the best possible platforms right now is like finding a needle in a haystack. It’s a very time consuming task that requires Google searches, reading comparison blogs, and going to each platform and reading the information in their About Us and the FAQ section.
David Drake has recently observed that, “Based on the Crowd funding industry report from Crowdsourcing.org, the top ten Crowd funding platforms make 83% of all the revenue in this industry. If nothing is done about this then the bigger platforms will get larger until this whole industry will become an oligopoly with only a few large players. All small niche platforms will disappear. “
Finally there is CrowdsUnite, a crowd funding review website that will solve all these issues. Think of it as an Amazon for crowd funding platforms. People who are raising money will be able to filter, sort, and compare platforms right in one place. Anybody can leave reviews for the platform which will create a more transparent customer experience. Smaller platforms that are reviewed now have validation in the marketplace. This will help them attract new customers. CrowdsUnite will equalize the playing field for all and will give niche platforms a fighting chance.
The website itself is designed to be clean, clear and simple to use. Currently the number of platforms it has is limited but every day it is adding new ones to its site. It hopes to include all 700 crowd funding platforms and any new ones that get established. CrowdsUnite wants to establish itself as a leader in the crowd funding review space and be the first stop for anybody who is raising money.