crowdfunding

noun
crowd·​fund·​ing | \ ˈkrau̇d-ˌfən-diŋ How to pronounce crowdfunding (audio) \

Definition of crowdfunding

: the practice of obtaining needed funding (as for a new business) by soliciting contributions from a large number of people especially from the online community

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Did You Know?

Crowdsourcing and crowdfunding are two words that have recently found their way into the crowded pool of English. Crowdsourcing, which typically refers to the practice of soliciting services, ideas, or content from a large group of people online, was coined by Jeff Howe in a 2006 article in Wired, and crowdfunding was created by entrepreneur Michael Sullivan in that same year. Both words conceptualize "the crowd" as a vast online community from which something needed may be obtained. In crowdsourcing, the crowd is called upon for needed assistance or information. A well-known use of crowdsourcing is Wikipedia, whose content is the result of various contributors. Crowdfunding, on the other hand, involves a more specific request: the crowd is solicited for financial contributions to a particular venture or cause, such as a film project or cancer research.

Examples of crowdfunding in a Sentence

Recent Examples on the Web Since his arrest, Tarrio has raised $90,000 for his legal defense on the Christian crowdfunding site, GiveSendGo. Sarah Midkiff, refinery29.com, "The Leader Of The Proud Boys Was Arrested For Burning A Black Lives Matter Flag," 6 Jan. 2021 This year's program generated more than $5.6 million in crowdfunding and grants for nonprofits from 45 states and territories. Joel Shannon, USA TODAY, "Black youth arts center, refugee advocacy get a boost from Gannett Foundation program A Community Thrives," 11 Dec. 2020 The site, which has been operating in stealth since this summer, is called Vincent and is the brainchild of Slava Rubin, who founded the popular crowdfunding site Indiegogo. Jeff John Roberts, Fortune, "Indiegogo founder launches Vincent, a site to discover alternative investments," 8 Dec. 2020 Restaurant crowdfunding isn't easy, but Shoot the Moon restaurant may have something that piques your attention. Shelby Stewart, Chron, "Shoot the Moon restaurant offers unlimited incentive for early investors," 8 Dec. 2020 In traditional crowdfunding, the financial goals are lofty, sometimes in the hundreds of thousands of dollars. Jenna Drenten, Quartz, "What the rise of digital handouts on Venmo and Cash App says about our fraying social safety net," 23 Oct. 2020 Other crowdfunding campaigns are focused on improving existing technology. Hannah Thomasy, Smithsonian Magazine, "Covid-19 Has Designers Reimagining Personal Protective Equipment," 15 Sep. 2020 This diverges from traditional crowdfunding in which official online campaigns are set up for lofty fundraising goals. Jenna Drenten, Quartz, "What the rise of digital handouts on Venmo and Cash App says about our fraying social safety net," 23 Oct. 2020 Other crowdfunding campaigns are focused on improving existing technology. Hannah Thomasy, Smithsonian Magazine, "Covid-19 Has Designers Reimagining Personal Protective Equipment," 15 Sep. 2020

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'crowdfunding.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of crowdfunding

2007, in the meaning defined above

History and Etymology for crowdfunding

from gerund of crowdfund

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Time Traveler for crowdfunding

Time Traveler

The first known use of crowdfunding was in 2007

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Statistics for crowdfunding

Last Updated

27 Jan 2021

Cite this Entry

“Crowdfunding.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/crowdfunding. Accessed 27 Jan. 2021.

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