Success Factors in Reward based and Equity based Crowdfunding in Finland
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- Project Ambronite Autolla Nepaliin EkoRent Juuri Pyynikin Käsityöläispanimo
- Amount of Funding Raised
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Master’s Thesis
62 followers on Facebook, EkoRent had 25 to 30 bloggers and media representatives at hand as well as “approximately 800 people on the mailing list” and Juuri had about 8 to 10 thousand people on their mailing list. Pyynikin Käsityöläispanimo did not have a specific amount on their mailing list, but did have 1000 shareholders by the third crowdfunding project that were sent news about upcoming events such as the equity funding initiative. These details are shown in Table 5. Project Ambronite Autolla Nepaliin EkoRent Juuri Pyynikin Käsityöläispanimo Crowdfunding Model Reward- based Reward- based Reward-based Equity Equity Network Size Hundreds ready to fund and share 11 to 12 thousand followers 25-30 bloggers and media representatives 800 on the mailing list 8-10 thousand on the mailing list 1000 shareholders Amount of Funding Raised 103 thousand US dollars 33 thousand euros 6550 and 5660 euros (in two simultaneous campaigns) 173 thousand euros 336 thousand euros (in third crowdfunding project) Table 5: Network size and amounts raised by interviewed projects All the interviewed projects had a large amount of interested individuals in their net- work before launching their campaigns. It would seem Autolla Nepaliin had the big- gest reach, with Juuri a close second. Both projects reached their target, but did not raise the biggest amounts within the chosen crowdfunding model. In the reward-based crowdfunding, Ambronite raised 103 thousand US dollars with a target of 50 thou- sand US dollars, whereas Autolla Nepaliin raised 33 thousand euros having targeted 25 thousand euros. As for equity funding, Pyynikin Käsityöläispanimo raised a total of 336 thousand euros in their third campaign, whereas Juuri raised 173 thousand eu- ros. According to Ahlers et al. (2015) better and bigger networks increase the likeli- hood of attracting funding and investors in equity crowdfunding. The results of this |
