Crowdfunding raises $2.7 billion worldwide in 2012

(Credit: Massolution)

In the tech world, crowdfunding is most associated with Kickstarter and raising money for technology-centered projects like the Ouya gaming console, the Elevation Dock, and the Pebble smartwatch. But, the concept has a far wider reach than just consumer devices.

Global crowdfunding raised nearly $2.7 billion for more than 1 million campaigns in 2012, according to a new report by Massolution. This means that the crowdfunding market grew by 81 percent over the year prior.

"While lending-, donation-, and reward-based crowdfunding have thus far been leading this global financial revolution," CEO of Massolution Carl Esposti said in a ... [Read more]