“Crowd funding” has been around for some time. ArtistShare, a music-oriented site that claims to be “the Internet’s first fan funding platform,” has been around since 2003. There are many others: Sellaband, Kickstarter, RocketHub, PledgeMusic and PleaseFund. Us.
IndieGoGo was launched in 2008 to serve the independent film industry. The mandate was later expanded to encompass just about anything, including “for-profit ventures, creative ideas or personal needs.”
The Lightning Banjo team chose IndieGoGo after doing a considerable amount of research. With three weeks left to go, they’ve raised more than half their target.
Most of the support has come from people they know. Connecting with family, friends and colleagues, especially via standard social media platforms, is a large part of what makes this kind of do-it-yourself fundraising effort work.