What is crowdfunding? How to use in English

Definition & pronunciation of crowdfunding

crowdfundingnoun
gây quỹ cộng đồng
/ˈkraʊdfʌndɪŋ//ˈkraʊdfʌndɪŋ/

Where does the word crowdfunding come from?

The term "crowdfunding" has its roots in the 1990s, but it gained widespread popularity with the launch of platforms like Kickstarter in 2009. The word is a combination of "crow" and "funding." Prior to the concept becoming mainstream, it was referred to as "online fundraising" or "group funding." The Oxford English Dictionary credits Jeff Howe, a Fast Company editor, with coining the term "crowdsourcing" in 2006. Howe's article, "The Rise of Crowdsourcing," discussed the trend of soliciting contributions from a large group of people, often online. The term "crowdfunding" emerged soon after, as people began applying the same concept to funding projects. Today, crowdfunding has become a popular way for individuals, businesses, and organizations to raise money from a large number of people, often in exchange for rewards, equity, or loans.

Example of vocabulary crowdfundingnamespace

Our startup is currently crowdfunding on Kickstarter to reach our goal of $50,000.
The project has gained a lot of traction through crowdfunding platforms, having raised over $200,000 in just three weeks.
Crowdfunding has become a popular way for entrepreneurs to bring their ideas to life and test the market before investing in large-scale production.
We turned to crowdfunding as a way to provide our loyal customers with the opportunity to support our new product and share in its success.
The success of our crowdfunding campaign is a testament to the popularity and demand for our product in the marketplace.