Crowdfunding platforms continue to experience growth. When comparing total amount raised in 2012 to 2011, crowdfunding giant Kickstarter reported a 200% increase, IndieGoGo projects raised a respectable 20% more, and Razoo– the number one exclusively charitable crowdfunding platform–reported a stellar 2012, including breaking the world’s record with $16.3 million raised online in 24 hours.
It is no surprise that some industry experts predict the crowdfunding industry will double this year to $6 billion in annual revenue.
That ought to be great news for Alon Porat, co-founder of Moolta, a crowdfunding start-up out of Tel Aviv that turns video fun into doing good. Moolta provides a platform to create and take on video challenges for prizes, cash or donations to charity by completing sponsored and user-generated video challenges. I had the opportunity to catch-up with Alon recently to learn more about his platform.
Alan Porat (AP): Moolta started with hours of random YouTubing. About a year and half ago, my co-founders and I talked about how better and funnier would all YouTube videos be if they were actually done by friends we know. We thought how we could make it happen and the obvious answer was incentives – peer pressure, cash, and most important for us – charity: doing amazing video challenges for good causes. Choose the challenge, crowd fund the donation, and make it happen. We believe that the combination between charity and video challenges can really help make a difference, by encouraging more people than ever before to do some good.
The social good component in Moolta was important to us from the get go because it was something we deeply believed in. From the start we loved the idea of having fun while doing good.
Our first pilot run with Moolta was at the University of Florida. We got amazing feedback and that’s where we first discovered we’re not the only ones who are excited about this concept. From then on it became our main focus and we’re working hard developing features to meet the needs of more and more nonprofits.
NP: I especially look forward to seeing what new features you add with nonprofits in mind. With several different scenarios for participating in a Moolta challenge, what’s the easiest way to describe Moolta to others?
AP: We like to think of Moolta as YouTube and Kickstarter’s awesome love child. It’s a new way for people to raise money and awareness – by creating great video content.
NP: Clever! So who would you say is your target market for this awesome love child?
AP: At first we thought of Moolta as a platform that will mostly appeal to college kids. With time, we discovered that the concept of fun challenges, especially when done for a good cause, is something that attracts all age groups. We’ve talked and seen people from age 13 to 73 enjoy and relate to Moolta. We’ve recently also started cooperating directly with nonprofits, helping them to better organize and fund big multi-layer fundraising events.
Moolta started as a platform for fundraising amongst friends, but now, with organizations actively promoting fundraising events on Moolta, we see more and more people donating to events they aren’t personally linked to.
NP: That sounds exciting! I’m curious. What is your favorite Moolta challenge to date and why?
AP: For entirely not objective reasons, my favorite challenge is the very first Moolta challenge. It was before we officially started the company, before the platform was fully built and before we had any users. I had the “honor” to be the first “challengee” and my co-founder had the pleasure to assist in making it happen. Without further ado!
NP: What is one thing we may be surprised to know about Moolta?
AP: You’ll be surprised to know what the word “Moolta” means. I’d tell you, but it’s one of our best kept secrets.
NP: I understand. I was interested to see that Moolta has partnered with FirstGiving.com where Moolta points are redeemed for branded prizes or charitable donations. Please tell us how people and nonprofits can get involved with Moolta?
AP: The best way is simply to go to Moolta and start a challenge.
NP: Thanks Alon! All the best to you and the Moolta team!
Some company highlights from the Moolta press kit:
- Received over 1.3 million views of our original content on multiple platforms.
- Over 90,000 visitors.
- 15 minutes of engagement time per average visit.
- Over 2,500 challenges created.
- 40% of challenges created used our idea bank.
- Web – Full, active site.
- Mobile – Proof Uploader app for iPhone on the App Store. Full app coming soon.
- Widgets – Coming soon.
To borrow from the Moolta team: May 2013 be the year that emphasizes the fun in fundraising, and with that in mind, enjoy this featured moolta challenge that will benefit the Robin Hood Foundation once successful.
Learn more about Moolta from their FAQs.