Crowdsourcing and Crowdfunding

Crowdfunding (sometimes referred to as crowdfinancing or 

crowdsourced capital) is an approach to raising capital for a new projects and businesses by soliciting micro donations from a large number of stakeholders. Charities and non-profits have long uses this fundraising model in an offline context; however, with the advent of social media, and web 2.0 technologies, crowdfunding has become a viable fundraising mechanism for film, journalism and music in addition to nonprofits organizations.

Courtesy of crowdsourcing.org