Pozible is an

Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...

-based

crowdfunding Crowdfunding is the practice of funding a project or venture by raising money from a large number of people, typically via the internet. Crowdfunding is a form of crowdsourcing and alternative finance. In 2015, over was raised worldwide by crow ...

platform and community-building tool for creative projects and ideas. It was developed to help people raise funds.

Model

Pozible is a

platform and creative community. Projects are launched on the Pozible website after a reviewing process to make sure the project abides by the platform's project guidelines. Project creators select a deadline and a target amount to achieve. Supporters are invited and encouraged to pledge an amount to support the project's campaign. During the project's campaign, project creators are encouraged to publicise their works through embedded videos,

word of mouth Word of mouth, or ''viva voce'', is the passing of information from person to person using oral communication, which could be as simple as telling someone the time of day. Storytelling is a common form of word-of-mouth communication where one pe ...

social networks A social network is a social structure made up of a set of social actors (such as individuals or organizations), sets of dyadic ties, and other social interactions between actors. The social network perspective provides a set of methods for a ...

and regular project updates. If the nominated target is not met by the deadline, pledges are not processed. Supporters require a MasterCard or

Visa Visa most commonly refers to: *Visa Inc., a US multinational financial and payment cards company ** Visa Debit card issued by the above company ** Visa Electron, a debit card ** Visa Plus, an interbank network *Travel visa, a document that allows ...

credit card or debit card to make a pledge. In May 2012, Pozible introduced

PayPal PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers, and serves as an electronic alternative to traditional paper ...

as a payment method. In October 2013, Pozible introduced

Bitcoin Bitcoin ( abbreviation: BTC; sign: ₿) is a decentralized digital currency that can be transferred on the peer-to-peer bitcoin network. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distr ...

as a payment method. This allows projects from around the world to raise funds in their country's currency. Pozible takes a 5% service fee from successful projects, and a transfer is made into the project creator's bank account or PayPal account. Partners and previously successful project creators are only required to pay a 4% fee for their successful projects. In April 2014, Pozible reduced fees for projects that raise over $100,000 to 4% and over $500,000 to 3%. In turn, project creators must provide rewards (non-financial at present) to their supporters, relative to how much is pledged, though pledgers are not obliged to select a reward, they can still pledge funds with no reward chosen. Creators can choose from the following Models: * Standard project * Subscription crowdfunding: Gives users the ability to offer subscription based rewards like magazines. * Self-Hosted crowdfunding: For users that don't want to divert traffic from their own websites and have good web design skills. Unsuccessful projects are not required to pay a fee.

History

Pozible was launched as Fundbreak in May 2010 by

Alan Crabbe Alan may refer to: People *Alan (surname), an English and Turkish surname *Alan (given name), an English given name **List of people with given name Alan ''Following are people commonly referred to solely by "Alan" or by a homonymous name.'' *Al ...

and Rick Chen. Pozible's good reputation among arts practitioners and connections in the local Australian arts industry has seen collaborations with festivals and government partners such as ScreenWest, the Emerging Writers Festival and the Melbourne and Sydney Fringe Festivals and many local non-for-profit organisations. The Fundbreak brand was relaunched as Pozible in January 2011, and established offices in Melbourne and Sydney, Australia. In May 2012, Pozible launched internationally - switching to www.pozible.com from www.pozible.com.au - and partnered with PayPal to offer multi-currency transactions. Pozible now accepts projects and funding support in 22 major currencies. In 2013, Pozible achieved a number of milestones: it raised AUD $1 million+ in a single month for the first time; this was repeated in September 2013 and in subsequent months. As at 31 December 2013, Pozible went live in Malaysia and Singapore. As at April 2016, Pozible has hosted over 10,000 projects and raised a total of over $40 million towards projects from Australia and around the world. Pozible continues to operate from its headquarters in Melbourne, Australia and has opened offices in Silicon Valley (USA), China and Singapore. Pozible was listed as one of three start-ups to watch in 2014 by ''

The Australian Financial Review ''The Australian Financial Review'' (abbreviated to the ''AFR'') is an Australian business-focused, compact daily newspaper covering the current business and economic affairs of Australia and the world. The newspaper is based in Sydney, New Sou ...

'', one of 'five start ups to watch in 2014' by Startup Smart and Smart Company and was featured on the cover of ''TechCrunch''. Pozible's overall success rate is 58%, with individual categories averaging up to 70%. In 2017,

Birchal Birchal is an Australian equity crowdfunding platform which captured AU$94 million of the AU$146.6 million raised in the Australian retail equity crowdfunding market during 2018 to 2021. Birchal is licensed by the Australian Securities & Invest ...

was founded as a sister platform to Pozible, offering

equity crowdfunding Equity crowdfunding is the online offering of private company securities to a group of people for investment and therefore it is a part of the capital markets. Because equity crowdfunding involves investment into a commercial enterprise, it is ...

References

External links

* {{Crowdfunding platforms Social economy in Australia Crowdfunding platforms Companies based in Melbourne Financial services companies established in 2010 Australian companies established in 2010 Privately held companies of Australia Online financial services companies of Australia Investment companies of Australia 2010 establishments in Australia

Model

History

See also

References

External links