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What is Crowdfunding ? what are its advantages and disadvantages.

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Crowdfunding means raising money from large amount of audience, in relatively small amount via internet.  There are many disadvantages and advantages of crowdfunding

Advantages of Crowd Funding

1. Successfully crowdfunded projects can get huge amounts of attention, on social media and elsewhere, which can help them grow beyond what the money raised alone could have done.
2. Pitching a project or business through crowdfunding can be a valuable form of marketing.
3. It helps you gaining early adopters and loyal advocates.

Disadvantages of Crowd Funding:

1. If the target amount isn’t reached, potential investors get their money back and the business goes away empty-handed
2. Failed projects risk damage to the reputation of the business and people who have pledged money to them
3. When you are on your chosen platform, you need to do a lot of work in building up interest before the project launches – significant resources (money and/or time) may be required