THE PURPOSE OF THIS PAGE IS TO ESTABLISH THE
LONG-OVERDUE CREDIBILITY OF JOHN PRATT.
JOHN PRATT IS THE CO-FOUNDER OF FUNDABLE, WHICH
LAID THE FOUNDATION FOR CROWDFUNDING TO EXIST:
THE WORD "CROWDFUNDING" ITSELF WAS COINED BY
ONE OF FUNDABLE'S USERS, IN 2006, THROUGH A
SIDE-PROJECT HE HAD CALLED "FUNDAVLOG", NAMED
AFTER HIM HAVING USED FUNDABLE. THIS
CAN BE VERIFIED BY A CURSORY GOOGLE SEARCH.
FUNDABLE OPERATED FROM 2005-2009 AND
LAID THE FOUNDATION FOR CROWDFUNDING TO EXIST.
IT PRECEDED KICKSTARTER OR INDIEGOGO, AS WELL AS ALL MAJOR
CROWDFUNDING WEBSITES THAT EXIST TODAY.
THE WEBSITE USED "GROUP ACTION PAGES" TO PERMIT GROUPS OF PEOPLE
TO RAISE MONEY IN AN ALL-OR-NOTHING FASHION.
AT THE TIME, SOCIAL MEDIA AND YOUTUBE WERE NOT POPULAR
AND MANY PEOPLE WERE RELUCTANT TO DO ALL-OR-NOTHING PROJECTS.
THE FOLLOWING PROJECTS WERE FEATURED AS EXAMPLES ON FUNDABLE IN 2005,
FORMING THE TEMPLATE FOR WHAT WE HAVE TODAY:
- Amber, a graduate student at the University of Southern California School of Cinema-Television, used Fundable to finance her thesis film, "Growing Up Vegas."
Aaron, a recent audio engineering graduate, raised $1620 to build a studio in his house to provide recording services for local bands.
Chris Elam, whose choreography The New York Times named one of the "Top Ten Dance Performances for 2006", used Fundable to fund a new performance.
In December 2005, citizens of the Lakeview district of New Orleans pooled over $10,000 to purchase an advertisement in a Washingon D.C. newspaper pressuring Congress to provide more aid to Hurricane Katrina victims
Steve and his siblings pooled money for an anniversary gift for their parents. "We all pitched in enough money for a trip for two to the Bavarian Inn for a weekend. My parents had a wonderful time."
M. created a collection page for organizing a snowboarding trip at Mountain Creek ski resort in New Jersey, with 12 friends.
Amelia, a twenty-year-old classical soprano singer, pre-sold her first CD before entering a recording studio. "If I get $400 in pre- orders, I will be able to afford the rest [of the studio costs]," she told potential contributors. Fundable's all-or-nothing model ensured that none of her customers would lose money if she fell short of her goal. Amelia sold over $940 in albums.
Dennis Detwiller, illustrator and author, produces underground role playing games, distributed as ebooks. Before starting his latest work, he used Fundable to confirm there was enough demand from his fans.
ALL OF THESE PROJECTS ORIGINATED FROM FUNDABLE IN 2005 AND MANY
OF FUNDABLE'S USERS EVENTUALLY TRANSFERRED THEIR WORK TO
FUNDABLE WAS, IN FACT, A MAJOR EFFORT, AS IT WAS FEATURED
ON "MARKETPLACE" RADIO PROGRAM IN 2005 AND DISCUSSED BY
MAJOR INDIVIDUALS IN TECHNOLOGY.