Starting a business requires multiple things. Patience, perseverance, and dedication are a few of the most common traits needed to be successful. Capital is the external factor that needs to be addressed for most entrepreneurs. While some businesses require low startup costs, others can have a substantial amount of money needed to even get your foot in the door.
Crowdfunding has become one of the most popular methods for acquiring larger amounts of startup capital. While crowdfunding is a great option for those seeking funds, it’s not always a great investment for the backers.The chances that a project succeeds are generally less than those that fail. Bitvore was the fourth largest crowdfunding success as of 2015, but many more projects have come along since.
Here are a few of the most funded crowdfunded projects and how they ended up.
These unique watches hold numbers 1,3, and 6 on the list. Accumulating almost 45 million dollars in funds between the three versions of their watch, Pebble Time easily takes the cake for the most raised. Initially hitting a few bumps after their launches, the company announced at the end of 2016 they had sold their company to FitBit.
The Everyday Backpack, Tote, and Sling
Raising just over 6.5 million dollars, this bag was created to give photographers an everyday bag that suited all their needs. Since launch, these bags have continued to receive high reviews from photographers and are available for several places online.
If starting a business is an option you are considering, crowdfunding may be an option for you if you need to raise a large amount of money upfront. Other short-term options include small business credit cards that are loaded with special perks and benefits as well as completing small tasks for some extra money.
In the infographic below from Investment Zen, the top ten most funded crowdfunded projects are laid out with their eventual outcomes.