There’s a lot happening in the French crowdfunding industry. Recent announcements have included KissKissBankBank partnering with the French Post as their official fundraising and artist discovery platform and Ulule who have just launched a new feature, a presale option supporting products coming to market once they have raised the required level of capital. I was really keen to understand more about how the crowdfunding industry is developing in general, and in particularly, how it’s doing in France. I got in touch with ten founders of crowdfunding platforms to learn what I could. In all, I spoke to: Smiti Arbia from carnetdemode.com, Nicolas Bailly de touscoprod, Alexandre Boucherot d’Ulule, Hortense Garand from babeldoor.com, Michael Goldman from MyMajorCompany, Nicolas Guillaume from Friendsclear, Angel Ramos de revenonsalamusique.com, Vincent Ricordeau from KissKissBankBank, and Yannick Robert from Mywittygames.com. In a series of three articles, I am going to look at different aspects of the topic. In this first part of a three article series, I look at what makes France different?
My count reached twenty-nine crowdfunding platforms currently operating in the French market, and there are probably more I’m unaware of. This is not to say the country is experiencing an extraordinary phenomena: crowdfunding is booming in Europe and across the world. Who hasn’t heard of Kickstarter’s success? Kickstarter can proud of having reached the dizzy heights of now raising in the order of a US$1m a week, all in less than 2 years in business, for new business ventures and special cause projects. One of their projects, the tiktok lunatik iPod Nano watch holder raising close to $1m alone. In Europe, France among other countries has not yet reached the point of such growth. Why is that?