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Bryce Bartel, Brandon Taylor, Chase Stewart, Joseph Anderson, Salvael Ortega
CROWDSOURCING
Crowd Outsourcing Crowdsourcing
Definition
“Crowdsourcing is the act of outsourcing tasks, traditionally performed by an employee or contractor, to an undefined, large group of people or community (a "crowd"), through an open call.” -Wikipedia
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
• “Groups are Smarter than the smartest people in them” – Wisdom of Crowds
• Process of taking into account the collective opinion of individuals , rather than a single expert to answer a question.
Crowd Wisdom
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
• Wikipedia– Online encyclopedia that 15%
of the internet refers to daily.
Examples of Crowd Wisdom
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
• Word of Mouth– Social Media– Buzz, blogs, etc
Examples of Crowd Wisdom
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
• Springwise– Blog style Site– Collection of ideas from across the globe
• Quirky– Crowd Product Development– Make money by contributing– Release products every few days– Market feedback if not accepted
Crowd Ideas
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
• LOTR – Theatrical Version vs.
Extended
Wisdom of Crowds is powerful
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
• Development:– oDesk– Elance
• User Testing – Loop11– FeedbackArmy– Fivesecondtest– UserTesting
Crowd Development
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
• Crowd Source/Open Source– Ruby– Firefox– Linux
• Incentive Source– NetFlix
• Customer Validation– What do you need un this software?
Crowd Development
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
• Linking “creatives” to those who need creative input
• Need creative insights for a logo check out crowdspring
Crowd Creative
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
Crowd Funding
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
Fundraising Sponsorship Loans
Equity Investment
sRewards
• No Returns• Threshold Pledge
Examples:• 40Billion
Fundraising
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
40Billion
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
• Sponsor gets to display ad on website
• Million Dollar Page
Sponsorship
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
• Interest and repayment• Other fees (set-up fee, extension)• No sell of ownership• Microloans allow for loans of down to $1• Threshold Pledge
• 40Billion• Kiva• Lendio• Prosper.com
Loans and Microloans
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
• Very hard to get around SEC regulations
• WebEquity.org
Equity Investments
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
Examples:• KickStarter• ProFounder• IndieGoGo
Rewards
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
Pros• Allows financing for
unconventional ideas
• Provides some validation for idea’s success
CrowdFunding
Cons• Disclosure of ideas
• Tend to focus on seed funding
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
• ProFounder.com• KickStarter.com• IndieGoGo.com• Kiva.org• 40Billion.com• WebEquity.org• Prosper.com
URLs
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
Questions?
Intro Crowd Wisdom
Crowd Development
Crowd Creative
Crowd Funding Conclusion
