Crowdfunding: A Tale of Two Campaigns

Case Solution

Andrew Zacharakis, Gabriel Quintana, Tommy Ripke
Babson College ()

Crowdfunding is seen as an alternative to traditional venture capital and angel financing, which has helped launch many commercial ventures. The basic idea of ​​crowdfunding is to present a business idea to a large group of people and seek financial support. Although crowdfunding has been around for hundreds of years, it has recently moved to online platforms. The most successful platforms to date have been Kickstarter and Indiegogo, which have helped many companies obtain seed funding. In this case, we are talking about two different startups, one from a twin sister duo (Marla and Annie) and the other from a Babson College student (Hanson). Enerchi Bites is a startup with a new food product born from a passion for fitness and yoga. The identical twin sisters (Marla and Annie Feldman) began experimenting with different combinations of chia seed-based foods. After developing three different flavors, they began selling their products at various yoga conventions. They quickly built enthusiasm for their new products and faced the problem of scaling their new company. They decided to start a Kickstarter campaign that would attempt to raise $ 10,000. They found that this was the amount they needed to grow their business. After the Kickstarter campaign was completed, the sisters found the final results disappointing as they only raised around $ 5,000 after spending on advertising and rewards due to activists. Think Board is the brainchild of Babson student Hanson Grant. This company grew out of one of Hanson’s earlier ideas. He had designed chalkboard t-shirts. Realizing that the t-shirt idea wasn’t going to work, he wondered how he could use this to his advantage until his friends identified it. When he put pieces of the material together, he got a large Dryase plate that could be printed with any pattern.

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