{"id":1362,"date":"2012-05-25T12:10:17","date_gmt":"2012-05-25T12:10:17","guid":{"rendered":"https:\/\/kerryhannon.com\/?p=1362"},"modified":"2012-06-07T12:01:59","modified_gmt":"2012-06-07T12:01:59","slug":"crowd-funding-the-pebble-and-nbcs-the-voice-rock-duothe-shields-brothers","status":"publish","type":"post","link":"https:\/\/kerryhannon.com\/?p=1362","title":{"rendered":"Forbes.Com\/Second Verse: Crowd-funding: The Pebble and NBC’s The Voice Rock Duo,The Shields Brothers"},"content":{"rendered":"
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The Shields Brothers, photo courtesy of NBC The Voice<\/figcaption><\/figure>\n

As I was reading the Smithsonian.com\u2019s Innovations<\/a> blog about smart watches, I stopped cold when I came to this passage about the the newest, new, new thing, the Pebble.<\/p>\n

\u201cEven more impressive, though, is how Allerta, the company behind it, has used \u201ccrowd-funding\u201d to go viral and, in the process, raise way, way more cash than it thought it could,\u201d writes Columnist Randy Rieland.<\/p>\n

The financing for Pebble was ramped up via Kickstarter, a website, used to get people to invest relatively tiny amounts in small tech projects or creative endeavors like music or video games. The goal was to raise $100,000.<\/p>\n

On April 12th, the project\u2019s Kickstarter <\/a>page announced that in 28 hours, $1 million was kicked in via the fundraising platform. The minimum pledge was $1. As of April 30th, it has raised $7.1 million-plus from 48,100 backers with 18 days to go. \u201cThat\u2019s serious money,\u201d writes Rieland.<\/p>\n

You can say that again.<\/p>\n

A product like Pebble would typically be financed via the venture capitalist route. Founder Eric Migicovsky, however, \u201cknew that investors can be skittish about throwing money into hardware, and would likely ask a lot of questions about models and market size,\u201d writes Rieland. \u201cSo he took his smart watch to the people.\u201d He made a video that shows what the Pebble was all about and offered to let folks pre-order models at a discounted price.<\/p>\n

Maybe Kickstarter is all old news to you. It has been around since 2008. But seriously, it\u2019s news to me.<\/p>\n

I first heard about it just the other week when my friend\u2019s sons, The Shields Brothers<\/a>, launched a Kickstarter.com campaign to help finance the recording of a new rock and roll album. I donated $30 to help the cause. I love this duo\u2019s talent, energy and confidence.<\/p>\n

They were featured on this season\u2019s The Voice reality competition on NBC and were picked for their short-lived adventure by Cee Lo Green for his team. I instantly wanted to help them reach their $4,000 goal. It was a small donation, I know, but it felt good to me.<\/p>\n

Crowd-funding.<\/strong> What a dream, busking without a guitar case propped open at your feet, as you belt out a tune on a crowded street. Take that Glen Hansard and Once lovers.<\/p>\n

Even better, it\u2019s a hands-free way to tap your friends and family that doesn\u2019t involve the awkward task of collecting the cash directly, or having to make a face-to-face pitch and risk rejection. Hitting people up for money is delicate even when you are passionate about your project or new business venture.<\/p>\n

Helping the Shields Brothers, who are from tiny Rixeyville, VA, was easy. I agreed to donate, and the site clicked me over to Amazon to complete my transaction via credit card. You can donate anywhere from $1 to the skies the limit.
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\nIt\u2019s not an investment.<\/strong> Although, they did say I could have my name listed as an associate producer, and they would send me a personal thank-you video. Plus, I will get a free download of the first single released.<\/p>\n

Ultimately, they raised $8,255, and 215 people ponied up. Their goal was $4,000.<\/p>\n

It\u2019s a great concept if taken in the right spirit. Here\u2019s how it works.<\/p>\n