Crowdfunding day is celebrated annually on June 7. Crowdfunding is a collective collection of money, when many people provide financial support to an organization or an individual. The purpose of fundraising can be different – from helping victims of a disaster to paying for training for a poor but talented athlete.

History of crowdfunding

History crowdfunding very old – back in the middle of the 19th century, the French philosopher Auguste Comte used the theoretical concept to get money for philosophical research.

The first fundraising platform

A more modern example crowdfunding, which started mass fundraising, was given by a music group from Great Britain. The first fundraising platform was called ArtistShare. Now there are many such resources. The platforms do not regulate the amount of incoming funds in any way – you can pay either 1 dollar or 1000 (sometimes there is a limit on the minimum payment). Information related to the collection of money is open to everyone – the depositor can at any time see how much money has been collected and how much is left to achieve the goal.