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Join Creative Chat Cafe host, Zef Zan, regular co-host, Super Julie Braun of SuperInterns.com, and first time guest, Manolis Sfinarolakis of RealityCrowdTV.com, as they discuss "Getting Started with Crowdfunding!"
Tips & Solutions:
TIPS IN GETTING STARTED WITH A CROWDFUNDING PROJECT/CAMPAIGN
This campaign cancelled their fundraising, but for good reason. An angel investor came in and gave him the necessary funds he needed and introduced him to Starbucks! I know this gentleman, Raymond, personally and I helped him on the PR end of things by providing him with targeted media lists.
I believe that this angel investor may have had an interest before the campaign, but wanted to see if Raymond and his team had the wherewithal to prove the demand for their Tree Sleeve product. The Kickstarter campaign certainly gave him the exposure he needed to secure the investment from the angel investor.
The reason why he did not finish anyway is because there would have been an associated cost to fulfill those rewards in the Kickstarter that would have resulted in less than a net gain of $100,000. With the angel investment, it was $100,000 net cash influx so that he and his team could use all those funds to build the company to the next level without needing to produce all of the other products that the campaign would have required him to fulfill. The great thing is, he still received all of the email addresses and contact information of all of the individuals who contributed. When the time comes, he will still be able to convert the Kickstarter backers into customers when the production time comes for his finished product.