Donald Trump’s New “Venture” in the Crowdsourcing Department…

FundAnything

 

He’s name is on buildings, in hotels and casinos, on clothes and now on FundAnything?

Donald Trump has put his face on a website and said “I’m Giving Away MONEY!”

Publicity stunt or reality?

I think it’s both.

Trump’s money has found its way to a new crowdsourcing website called FundAnything.com, which was created by Bill Zanker and two other entrepreneurs. Zanker is the creator of The Learning Annex, an adult education company where Trump is a featured lecturer.

According to a spokesperson for the site, despite what many may think, Trump is really giving away money. But to three campaigns of his choice that were already on the website.

Trump will be giving away the money in three suitcases full of cash and has called for a press conference on the day he plans on giving away the cash. I think that FundAnything may be as popular (by word of mouth) as Kickstarter and Indiegogo.

But just because people know the name, does it mean that the company will get a lot of users? Who knows? Only time will tell.

I think that eventually it will gain users because of the publicity, but will have a long way to go before it is as popular (by people using the site) as Kickstarter and Indiegogo. For one, as a user, it is a little more costly to use the new site. If a campaign is not fully funded on the site, then a nine percent total deduction will go to FundAnything. Fully funded campaigns will only see a five percent deduction. On Indiegogo, which is a pretty popular site, it collects the same nine percent commission off campaigns not fully funded but only collects a four percent profit on campaigns completed.

Kickstarter is just naturally different. It’s as popular or maybe even more popular due to the recent campaign of the Veronica Mars Movie on the site, which gave it a lot of publicity and probably fully introduced crowdsourcing to those who did not know anything about the new trend. Kickstarter is different in the sense that it does not give a campaign any money unless it reaches its goal. If it reaches it, then the site will charge a five percent fee.

All and all, I think that FundAnything has a long way to go, unless it can prove to users right now that the site has a lot of donors. Think about it, why would a user waste his or her time to campaign on this brand new site, when they can go to Indiegogo. It probably has more donors because it is a veteran site. A user may feel that he/she has a better chance of getting fully funded on the Indiegogo than on FundAnything and may take the chance on Indiegogo.

http://www.crainsnewyork.com/article/20130507/TECHNOLOGY/130509901

Advertisements