Crowdfunding’s Big-Bang Moment by Larry Downes

The crowdfunding service Kickstarter reached an important milestone last week. The company’s website reported that Kickstarter has now funded over 50,000 projects, with pledges coming from over 5,000,000 individual backers. Since its founding in 2009, Kickstarter has helped fledgling projects raise nearly $1 billion in donations.But those impressive numbers may be eclipsed by a revolution in venture financing that is only being held back by final government approval: start-ups raising actual investment funds from individuals in exchange for equity or a share of profits.