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Crowd Supply Launches, Transforming the Crowdfunding Landscape

Crowd Supply Launches, Transforming the Crowdfunding Landscape

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Published by Crowdsourcing.org

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Published by: Crowdsourcing.org on Mar 20, 2013
Copyright:Attribution Non-commercial


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SOURCE: Crowd Supply
 March 20, 2013
Crowd Supply Launches, Transforming theCrowdfunding Landscape
Combines Integrated Crowdfunding, Pre-Orders, E-Commerce andFulfillment
 PORTLAND, OR--(Marketwire - Mar 20, 2013) -Crowd Supply is  publicly launching the first marketplace that supports project creatorsfromcrowdfunding through product delivery. In addition to hosting crowdfunding campaigns,Crowd Supply offers the management of pre-orders, warehouse fulfillment and ship-from-stock e-commerce.Founded by a team of highly experienced engineers and productdevelopers, the company welcomes a wide range of design andtechnology projects and stands ready to help creators in ways that other crowdfunding sites do not."Everything about Crowd Supply is different from other crowdfundingwebsites," said Lou Doctor, co-founder and CEO of Crowd Supply. "Byteaming up with project creators for long-term success, Crowd Supply isushering in a new generation of exciting products and businesses. Our  pre-approval support process enables creators to speak and work directlywith experienced engineers and product designers to improve the qualityof their business plans and schedules. After crowdfunding, our pre-order and fulfillment services allow project creators to focus on their designsand future projects instead of packing and shipping boxes. The net resultis a better experience for consumers, an easier time for project creators,
and new businesses that have the foundation they need in order tosucceed in the long run."
Concept-to-Commerce Support
 Rather than treating the crowdfunding of a project as a single, one-timeevent, Crowd Supply supports creators with the critical services theyneed in order to successfully deliver their products into the hands of their customers:
In the pre-approval phase, Crowd Supply partners with creatorsfrom the moment they submit their project, providing actionablefeedback from its experienced engineers, entrepreneurs andmarketing professionals.
Once a project is approved, a minimum funding goal is establishedand a production delivery schedule is agreed upon, Crowd Supplyhosts the cross-platform campaign (mobile, tablet, desktop) togather pledges.
As soon as the minimum funding goal is reached, backers' fundsare made available to the project creator, as much as six to eightweeks sooner than other platforms. In this way, Crowd Supplygives creators a head start on their development schedules toimprove the odds that backer expectations will be met.
Post-crowdfunding, the project's campaign page on Crowd Supplyconverts to a 'pre-order page' for consumers who wish to receive anearly delivery of the product. Creators determine retail pricing andan estimated ship date, and this is accurately communicated to potential pre-order customers.
Once the project becomes a finished, manufactured product,Crowd Supply becomes an e-commerce reseller. Customers canorder these recently crowdfunded products for same-day shipment.
Crowdfunding Growth Creates New Opportunities
 Crowdfunding continues its dramatic upward trajectory, with annualtotals expected to reach $6 billion in 2013, more than double the amountraised in 2012 [1]. The challenge of raising money is largely solved, butafter funding is acquired, a project creator must transform an idea or  prototype into a tangible, manufactured product, and ultimately into asustainable business. Companies that can capitalize on the early interestgenerated from backers and consumers are at a distinct advantage, sincea product's highest rate of revenue growth occurs immediately after itexits the research and development stage [2].With Kickstarter and other crowdfunding platforms, creators who arefully funded often must figure out a way to accept pre-orders, then createtheir own e-commerce stores, and finally pack and ship potentiallythousands of items, all with mixed results."Few people realize just how hard it is to produce and deliver a finished product, even if there's sufficient funding," said Jim Clark, inventor of the Reactor  -- a revolutionary iPhone case that incorporates an ultra-thin generator to manually charge the iPhone's battery -- currently beingcrowdfunded on Crowd Supply. "Creative people need a long-termrelationship with talented partners in manufacturing, engineering,distribution and sales, so that they can focus on their projects and letexperts help execute on the other pieces of the puzzle. I did a successfulKickstarter project last year and along the way learned just how 'on your own' Kickstarter can make you feel. I really like what Crowd Supplyoffers in the way of support to entrepreneurs like me. What Kickstarter started, Crowd Supply now finishes."

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