the process of getting a large group of people to finance a particular project, especially by using a website where people can make contributions
I recentlyran a crowdfunding campaign to create an album.
Synonyms and related words
Words used to describe payments and funding sources
at someone’s expense
by the hour
cash-in-hand
Featured as a BuzzWord!
The concepts underpinning crowdfunding have long been used by charitable organizations and other creative enterprises, but the term itself didn’t first appear until 2006, by which time the idea had been galvanized by social media and web-based payment technology (which makes it straightforward to collect contributions from supporters at relatively low cost). The activity is also sometimes referred to as micropatronage.
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crowdfunding
noun uncountable
US /ˈkraʊdfʌndɪŋ/
DEFINITIONS1
1
the process of getting a large group of people to finance a particular project, especially by using a website where people can make contributions
I recentlyran a crowdfunding campaign to create an album.
Synonyms and related words
Words used to describe payments and funding sources
at someone’s expense
by the hour
cash-in-hand
Featured as a BuzzWord!
The concepts underpinning crowdfunding have long been used by charitable organizations and other creative enterprises, but the term itself didn’t first appear until 2006, by which time the idea had been galvanized by social media and web-based payment technology (which makes it straightforward to collect contributions from supporters at relatively low cost). The activity is also sometimes referred to as micropatronage.