Pledging to the Crowd : A Study on Value Constellations within the Crowdfunding Industry

Abstract: Research: In recent years the concept of crowdfunding, fundraising through social communities, has risen as an alternative for launching new creations and projects. The aim of this study was to explore the non-financial aspects of how interactive value is created through the social networks on a reward-based crowdfunding platform. This was done through investigating how creators on Kickstarter perceive value, approaching the social network from three different levels: the context, structure and practices. This study had a qualitative approach and 13 interviews were performed with key actors on the crowdfunding platform. A secondary study was performed gathering information about Kickstarter through their website. Findings: The result of this study suggests that there are non-financial benefits of being connected with an innovation network. The findings further indicate that the creators are utilizing the digital platforms to gain attention from the crowd and to connect with other networks. The study concludes that collective value is created through interactions on the crowdfunding platform. Further, the general attitude of authenticity within the crowdfunding context implies that the creators’ personal values and motives might play role for the rate success rates of new ventures.