A great example of crowd funding – Revolights

The Revolight is not only a wonderful and interesting idea but it’s a crowd funding success reaching its $43,500 total by day 8 of the 49 day funding period that was set by its creators. Crucially this means that the project will go ahead (wooo!) and every single backer will receive their reward. Excitingly the project still has 34 days of funding to go so may well end up greatly surpassing its goal (it’s already at $70,432!) resulting in more happy backers (remember that they’ll all receive their rewards) and more funding for the project. Everybody wins.

Check out the way the project has been funded so far, including details of the rewards available for each pledge:

PLEDGE $5 OR MORE

Receive a personalized thank you card from the Revolights founders + ability to follow the project’s progress as a kickstart backer through kickstarter blogs, twitter, facebook, etc.

(113 backers)

PLEDGE $25 OR MORE

Receive a Revolights decal, and Revolights team membership; which includes access to key project milestone updates that will directly link you to the Revolights project and its future (+ rewards listed above).

(67 backers)

PLEDGE $50 OR MORE

Receive a custom, project branded t-shirt that will further link you to Revolights through kickstarter, and its future (+ rewards listed above).

(28 backers)

PLEDGE $200 OR MORE

Receive a brand spankin’ new, pre-ordered set of the finalized Revolights (to MSRP for $220), that will be shipped prior to public release. They will look like what you see here in v4, but upgraaaded. Via team member updates, you’ll also be able to access key project updates all the way through your lights’ shipment (+ rewards listed above).

(137 backers)

PLEDGE $250 OR MORE

Receive a brand spankin’ new, pre-ordered set of the finalized, CUSTOM Revolights! You’ll not only get your lights before they are released to the public, but you’ll also be able to cruise your Revolights in style after selecting the (legal) taillight color of your choice from our color palette. Your name will be added to the revolights.com website as a “Yellow Jersey Backer”. Via exclusive team member updates, you’ll also be able to access key project milestone updates all the way through your lights’ shipment (+ $50 rewards listed above).

(141 backers)

You’ll notice that 208 people have supported the project at a level that doesn’t even get them a set of the lights, but instead some other unique rewards such as T shirts, and stickers etc. Although relatively small these pledges have, when totalled up, contributed just under $6,000 to the target – a significant chunk of the goal. This is particularly interesting as it shows the importance and effectiveness of supporting projects at any level as when combined all these relatively small (when compared to the top end) pledges are pretty significant and could make all the difference between the success or failure of a project.

We’ll be offering pledges at the following levels; £25, £50, £150, £300, £500 (pre-buying a course place +) , £800 and £2000 – each rewarded with something unique and very special.

We’re confident that TBA will be a crowd funding success, and the feedback from you all so far suggests that is the case, but in truth every penny will count and unless people are willing to back our idea in October it won’t get much further. Until we reach the target amount TBA will be pie in the sky*, but once we do, well that’s when things will really get exciting !

*and remember if we don’t reach the target no money will be debited from backers, the project will only take payment if the target amount is reached or surpassed. : )