Bryce Bartel, Brandon Taylor, Chase Stewart, Joseph Anderson, Salvael Ortega CROWDSOURCING

Crowd Outsourcing Crowdsourcing “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. Intro Crowd Wisdom Crowd Development Crowd Creative Crowd Funding Conclusion

Wikipedia – Online encyclopedia that 15% of the internet refers to daily. Intro Crowd Wisdom Crowd Development Crowd Creative Crowd Funding Conclusion

Word of Mouth – Social Media – Buzz, blogs, etc 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 Intro Crowd Wisdom Crowd Development Crowd Creative Crowd Funding Conclusion

LOTR – Theatrical Version vs. Extended Intro Crowd Wisdom Crowd Development Crowd Creative Crowd Funding Conclusion

Development: – oDesk – Elance User Testing – Loop11 – FeedbackArmy – Fivesecondtest – UserTesting 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? Intro Crowd Wisdom Crowd Development Crowd Creative Crowd Funding Conclusion

Linking “creatives” to those who need creative inputcreatives Need creative insights for a logo check out crowdspring crowdspring Intro Crowd Wisdom Crowd Development Crowd Creative Crowd Funding Conclusion

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No Returns Threshold Pledge Examples: 40Billion Intro Crowd Wisdom Crowd Development Crowd Creative Crowd Funding Conclusion

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Sponsor gets to display ad on website Million Dollar Page 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 Intro Crowd Wisdom Crowd Development Crowd Creative Crowd Funding Conclusion

Very hard to get around SEC regulations WebEquity.org Intro Crowd Wisdom Crowd Development Crowd Creative Crowd Funding Conclusion

Examples: KickStarter ProFounder IndieGoGo Intro Crowd Wisdom Crowd Development Crowd Creative Crowd Funding Conclusion

Pros Allows financing for unconventional ideas Provides some validation for idea’s success 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 Intro Crowd Wisdom Crowd Development Crowd Creative Crowd Funding Conclusion

Questions? Intro Crowd Wisdom Crowd Development Crowd Creative Crowd Funding Conclusion