TY - GEN
T1 - Launch on a High Note
T2 - 38th International Conference on Information Systems: Transforming Society with Digital Innovation, ICIS 2017
AU - Garimella, Aravinda
AU - Kotha, Suresh
AU - Fan, Ming
AU - You, Weijia
N1 - Funding Information:
This research is supported by the National Natural Science Foundation of China under Grant No. 71402006.
PY - 2018
Y1 - 2018
N2 - Recently, the phenomenon of crowdfunding has surfaced as an innovative way to raise capital for venture opportunities online. Using data from a unique crowdfunding platform, we examine whether opting for “prefunding”, or raising awareness prior to fund-raising, increases the likelihood of a campaign meeting its fund-raising goal. We also examine how prefunding activities influence fundraising dynamics to show that prefunding activities significantly increase the likelihood of a campaign meeting its fund-raising goal, and that the relationship between prefunding and project success is mediated by the number of backers and quality of backers. We take an in-depth look at projects that use prefunding and find that it is effective when entrepreneurs keep potential backers informed and ensure that they are engaged.
AB - Recently, the phenomenon of crowdfunding has surfaced as an innovative way to raise capital for venture opportunities online. Using data from a unique crowdfunding platform, we examine whether opting for “prefunding”, or raising awareness prior to fund-raising, increases the likelihood of a campaign meeting its fund-raising goal. We also examine how prefunding activities influence fundraising dynamics to show that prefunding activities significantly increase the likelihood of a campaign meeting its fund-raising goal, and that the relationship between prefunding and project success is mediated by the number of backers and quality of backers. We take an in-depth look at projects that use prefunding and find that it is effective when entrepreneurs keep potential backers informed and ensure that they are engaged.
KW - Crowdfunding
KW - Peer-to-peer communities
KW - Prefunding
UR - http://www.scopus.com/inward/record.url?scp=85126498322&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85126498322&partnerID=8YFLogxK
M3 - Conference contribution
AN - SCOPUS:85126498322
SN - 9780996683159
T3 - ICIS 2017: Transforming Society with Digital Innovation
BT - ICIS 2017
PB - Association for Information Systems
Y2 - 10 December 2017 through 13 December 2017
ER -