The business used the Kickstarter crowdfunding platform to raise an additional US $2.9 million in the first year and US $19 million in the following year. As an example, Formlabs, a 3D printing startup, raised US $2 million in seed funding. As an alternative form of investment, crowdfunding offers opportunities for entrepreneurs to access various forms of funding. In the United States, the entrepreneurial culture has increased public awareness and the desire to support entrepreneurs. These platforms bestow comfort and ease in web-based transactions. This trend has been facilitated by the ubiquity of digital media, including the internet, social media, e-commerce, and web-based advertising. Ĭrowdfunding has evolved into a powerful alternative to other traditional investment forms, such as venture capital, initial public offerings, and angel investments. Similarly, this avenue has been used by artists, composers, and inventors to procure funding from backers willing to invest in their projects. Its earliest form, designed by Joseph Pulitzer, channeled Pulitzer’s newspaper to raise funds for the pedestal of the Statue of Liberty. In this exploratory study, we applied visual analytics to study medical crowdfunding, in which individuals raise funds for their medical treatment or for research projects via digital platforms such as GoFundMe. The crowdfunding phenomenon extends the traditional idea of fundraising into a contemporary internet platform–based funding vehicle.
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