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

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

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

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

  2. Definition “Crowdsourcingis 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

  3. Crowd Wisdom • “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.

  4. Examples of Crowd Wisdom • Wikipedia • Online encyclopedia that 15% of the internet refers to daily.

  5. Examples of Crowd Wisdom • Word of Mouth • Social Media • Buzz, blogs, etc

  6. Crowd Ideas • 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

  7. Wisdom of Crowds is powerful • LOTR • Theatrical Version vs. Extended

  8. Crowd Development • Development: • oDesk • Elance • User Testing • Loop11 • FeedbackArmy • Fivesecondtest • UserTesting

  9. Crowd Development • Crowd Source/Open Source • Ruby • Firefox • Linux • Incentive Source • NetFlix • Customer Validation • What do you need un this software?

  10. Crowd Creative • Linking “creatives” to those who need creative input • Need creative insights for a logo check out crowdspring

  11. Crowd Funding

  12. Fundraising • No Returns • Threshold Pledge Examples: • 40Billion

  13. 40Billion

  14. Sponsorship • Sponsor gets to display ad on website • Million Dollar Page

  15. Loans and Microloans • 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

  16. Equity Investments • Very hard to get around SEC regulations • WebEquity.org

  17. Rewards Examples: • KickStarter • ProFounder • IndieGoGo

  18. CrowdFunding Pros • Allows financing for unconventional ideas • Provides some validation for idea’s success Cons • Disclosure of ideas • Tend to focus on seed funding

  19. URLs • ProFounder.com • KickStarter.com • IndieGoGo.com • Kiva.org • 40Billion.com • WebEquity.org • Prosper.com

  20. Questions?

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