By Jyothi Chillara, CPA, Senior Tax Manager
ASL Emerging Business Group
Crowdfunding is a method of raising financing for projects from the public via crowdfunding platforms and social media. Some of the most common crowdfunding platforms are Kickstarter, Indiegogo and GoFundMe. According to Investopedia, Kickstarter has raised over $2 billion since 2009.
Forbes predicts that crowdfunding eventually will surpass venture capital for investing. According to Business News Daily, ““Crowdfunding is here to stay. By 2025, the global crowdfunding market potential could be between $90 billion and $96 billion,” said Bill Clerico, co-founder and CEO of WePay, citing data from the World Bank.” (more…)