Starting a business is hard work. It requires dedication, perseverance, and occasionally a large amount of startup cash. While bootstrapping your business or even launching with a business partner can help with the costs, sometimes it’s more money than can be obtained right away.
To help fund these larger amounts, crowdfunding has go-to option for entrepreneurs who need additional money. While crowdfunding is a great way to raise extra money for your launch, it’s not always the best choice for the investors who fund it. The product launch could bomb and the investors are out of luck. Here are a few of the most funded crowdfunded projects and how they ended up.
Exploding Kittens Game
With a name like Exploding Kittens, the game has almost sold itself. After raising 8.7 million dollars, this thoughtful card game was set to launch in January 2015. Since the launch, the game has continue to grow in popularity and has become a great hit. It is available on many platforms and the company continues to grow and deliver great experiences.
The World’s Best Travel Jacket
Raising over 9.1 million dollars, this jacket was designed with almost anything you could think of in a jacket. A built-in pillow, drink pocket, iPad holder, eye mask, and many other features. After the initial funding, the company selling the jackets raised an additional 11.5 million dollars. Despite being behind and failing to launch for the the holidays, the company is making headway now and growing slowly after the initial bumps.
If starting a business is your chosen path, crowdfunding is one method of getting the startup capital you need. Other financing options include small business credit cards that give you special discounts as well as finding different ways to make some extra money.
In the infographic below from Investment Zen, the top ten most funded crowdfunded projects are listed along with their outcomes.
This article was written by Erica Quinn
Erica Quinn is a data journalist and content strategist based in San Francisco, California. She currently focuses on personal finance, mortgage, and fintech content. Her work has appeared on Fox, Nasdaq, MSN, Motley Fool, and more.