What is crowdfund? How to use in English

Discover the meaning of crowdfund in English, its pronunciation, and how to use it correctly in real-life situations. See examples and easy memorization tips.

Definition & pronunciation of crowdfund

crowdfundverb
huy động vốn từ cộng đồng
/ˈkraʊdfʌnd//ˈkraʊdfʌnd/

Where does the word crowdfund come from?

The word "crowdfund" originated in the early 2000s as a combination of the words "crowd" and "fund". The term was first used to describe a grassroots funding model where a large number of people contributed small amounts of money, often through the internet, to support a project or venture. The concept of crowdfunding has its roots in ancient cultures, where people would pool their resources to fund community projects. However, the modern crowdfunding model, which uses the internet and social media to reach a large audience, is a relatively recent development. The first crowdfunding platform, KickStarter, was launched in 2009, and it quickly gained popularity. Since then, countless crowdfunding platforms have emerged, allowing individuals and organizations to raise funds for all manner of projects, from artistic endeavors to business ventures to charities and social causes.

Example of vocabulary crowdfundnamespace

The filmmakers launched a crowdfunding campaign to raise money for their independent movie.
The startup company turned to crowdfunding as a way to gather the necessary funds for their innovative product.
The artist's crowdfunding campaign for her new album became a huge success, exceeding her initial goals.
Due to the pandemic, many non-profit organizations turned towards crowdfunding to sustain their causes.
The tech entrepreneur's crowdfunding campaign for his smartwatch idea received a massive response, securing its manufacturing.