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BidOkee lets you pay it forward

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When your crowdfunding campaign succeeds, it will be because of the network of concentric circles you built around your friends and family, stretching out to people who may not know you but who are inspired by your idea.

When your campaign ends, your community doesn’t have to.

At the beginning of crowdfunding, when there were far fewer campaigns, there was a possibility of being “discovered.” Even then, having existing social capital – networks that can be mobilized through online sharing – was crucial to success. Now it is one of the only avenues through which campaigns can succeed (unless it is one of the rare campaigns to receive national media attention). As “discoverability” has ceased to be something the mega-sites can offer, their only value now is as a medium, as a platform, even with all their associated faults.

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BidOkee encourages sharing – not competition

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In 2012, more than one million individual crowdfunding campaigns were established globally.

As the industry grows, so does the number of campaigns – and less than 50,000 of new start-ups receive venture capital funding annually, because most funding goes to established companies. That leaves the other 99.5% to seek funding from friends, family, crowdfunding or angel investors.

When you launch a campaign on a conventional crowdfunding mega-site, you are instantly in competition with every other campaign on the site – and all of the additional campaigns that will get listed in future. The more the industry grows, the less relevant your campaign becomes.

Not only that, but Fortune 500 firms are actively experimenting with crowdfunding as a product launch and testing platform, further pushing out the small players. UC Berkeley is actually looking into providing courses for corporate executives wanting to launch crowdfunding campaigns. As a result, traditional crowdfunding platforms, and the industry as a whole, are becoming very crowded, with more and more competition. The bar for getting attention for your campaign is rising for small new start-ups. The cost and effort to successfully execute large campaigns is becoming prohibitive for entrepreneurs. The bigger the crowdfunding site, the less a small start-up can compete. This is counter to the whole notion of crowdfunding, which was supposed to assist start-ups penetrate the vast expanse of the marketplace.

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DIY Crowdfunding: BidOkee lets you own your site

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In today’s world, especially because of Millennials who are behind many of the one million start-ups each year, customer and user empowerment is shaping entire industries. The technology revolution is about empowering the individual to take control of their environment.

Mobile technology provides instantaneous freedom that empowers the individual – such as our smartphones and tablets, which are replacing desktops and laptops and which may one day themselves be replaced by wearable gadgets.

The advent of social media has transformed media altogether, providing an immediate outlet to millions of people to create success stories overnight or, on the other hand, ravaging people and companies just as quickly. The power of instantaneous communities is shaping politics and creating revolutions.

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Social-Currency

BidOkee Empowers Start-Ups in Crowdfunding Fight with Big Corporations

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BidOkee is establishing a cooperative model through which networks, resources, connections and best practices are shared between campaigns to realize crowdfunding’s original potential.

BidOkee’s CEO, Eyal Lichtmann, contends a major problem with crowdfunding is that small campaigns are being pushed aside as big corporations look to dominate the industry.

Approximately one million crowdfunding campaigns are launched annually. Over $20 billion in crowdfunding transactions will occur this year – a 100% increase over last year – according to Equitynet. A World Bank report estimates that, by 2025, this number will spike to $300 billion annually, while others estimate as high as $500 billion, with up to $3.2 trillion in economic activity.

Entrpreneur.com reports how difficult it is for start-ups to get funding despite the proliferation of crowdfunding worldwide. Currently 90% of the world’s online population has access to crowdfunding and $1,400 is raised in donations every minute. Still, only 3% of all start-up funding comes from crowdfunding.

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Social-Currency

BidOkee’s Gamified DIY Crowdfunding – The Rise of the Cooperative Model

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The future of crowdfunding will be powered
by a cooperative DIY SaaS system model that resolves numerous pain points in the crowdfunding industry.

BidOkee provides the freedom to develop stand-alone, branded, customizable DIY crowdfunding sites that integrate seamlessly with ecommerce and etail platforms, and incorporate loyalty programs, gamified features and a revenue sharing model.

Vancouver-based Quilageo Inc. has launched a prototype version of the world’s first gamified crowdfunding platform called BidOkee.

Scott Steinberg, author of The Crowdfunding Bible, featured BidOkee on NewsWatch TV. As Scott declares, “this could change crowdfunding as we know it.”

“There is massive proliferation of crowdfunding sites,” says Eyal Lichtmann, CEO of Quilageo. “There are over 450 crowdfunding platforms worldwide and hundreds of thousands of campaigns launched annually.”

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BidOkee: How we got here

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It’s been a wild ride so far. Here is the story of how we got here.

When we went looking for a crowdfunding platform for our revolutionary project, we were brutally disappointed. We ran into one brick wall after another trying to find the right combination of tools without too many restrictive rules.

In the end, to find exactly what we needed, we had to build it ourselves. In the process, we had an epiphany. If we had to build our own crowdfunding platform in order to get what we need, there must be plenty of others in the same boat.

The vast majority of crowdfunding campaigns fail to reach their goals. We believe part of the problem is systemic. Any craftsperson knows that to get the right results you need the right tools.

As we progressed through the sometimes-daunting process of building the crowdfunding platform to meet our specific needs, we slowly came to understand that what we were building had unlimited potential.

To make a long story short, we are now building a do-it-yourself crowdfunding platform so that no one will ever have to go through the challenges we have overcome.

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