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Risk Sharing and Crowdfunding

In: Social Capital and Risk Sharing

Author

Listed:
  • Adam Ng
  • Abbas Mirakhor
  • Mansor H. Ibrahim

Abstract

In 2002, Blender, a three-dimensional animation software company based in Amsterdam, was suffering from disappointing sales as a result of the ongoing dot.com crisis. The Blender Foundation was then established to keep the company afloat. Recognizing the support that crowds can offer, the Foundation launched a crowdfunding campaign and raised a hundred thousand euros within seven weeks. Today, Blender is a community-based open source 3D animation suite being made by hundreds of active volunteers ranging from studios and individual artists, professionals and hobbyists, scientists, students, and animators from around the world. Similar funding was raised in Seedmatch, a profit-sharing crowdfunding initiative, within a few days by a handful of 80–160 individual investors (Belleflamme et al., 2014). In 2012, a record-breaking amount of US$ 10.3 million was raised within 28 hours through crowdfunding by Pebble Technology for its Pebble smart watch.1 Larger amounts ranging from a few hundred million to more than a billion euros were raised through crowdfunding in Europe in 2013 (CFA Institute, 2014).

Suggested Citation

  • Adam Ng & Abbas Mirakhor & Mansor H. Ibrahim, 2015. "Risk Sharing and Crowdfunding," Palgrave Studies in Islamic Banking, Finance and Economics, in: Social Capital and Risk Sharing, chapter 0, pages 115-131, Palgrave Macmillan.
    • Handle: RePEc:pal:psibcp:978-1-137-47605-0_7
    DOI: 10.1057/9781137476050_7
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    Cited by:

    1. Großmann, Christopher & Merfeld, Katrin & Klein, Jan F. & Föller, Franziska & Henkel, Sven, 2024. "Onto the light side of sharing: Using the force of blockchain," Journal of Business Research, Elsevier, vol. 175(C).

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