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

CROWDSOURCING

Crowd Outsourcing

Crowdsourcing

Definition

“Crowdsourcing is 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

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion

• “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.

Crowd Wisdom

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion

• Wikipedia– Online encyclopedia that 15%

of the internet refers to daily.

Examples of Crowd Wisdom

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion

• Word of Mouth– Social Media– Buzz, blogs, etc

Examples of Crowd Wisdom

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion

• 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

Crowd Ideas

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion

• LOTR – Theatrical Version vs.

Extended

Wisdom of Crowds is powerful

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion

• Development:– oDesk– Elance

• User Testing – Loop11– FeedbackArmy– Fivesecondtest– UserTesting

Crowd Development

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion

• Crowd Source/Open Source– Ruby– Firefox– Linux

• Incentive Source– NetFlix

• Customer Validation– What do you need un this software?

Crowd Development

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion

• Linking “creatives” to those who need creative input

• Need creative insights for a logo check out crowdspring

Crowd Creative

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion

Crowd Funding

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion

Fundraising Sponsorship Loans

Equity Investment

sRewards

• No Returns• Threshold Pledge

Examples:• 40Billion

Fundraising

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion

40Billion

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion

• Sponsor gets to display ad on website

• Million Dollar Page

Sponsorship

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion

• 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

Loans and Microloans

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion

• Very hard to get around SEC regulations

• WebEquity.org

Equity Investments

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion

Examples:• KickStarter• ProFounder• IndieGoGo

Rewards

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion

Pros• Allows financing for

unconventional ideas

• Provides some validation for idea’s success

CrowdFunding

Cons• Disclosure of ideas

• Tend to focus on seed funding

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion

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

URLs

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion

Questions?

Intro Crowd Wisdom

Crowd Development

Crowd Creative

Crowd Funding Conclusion