Kickstarter is undoubtedly the top crowdfunding site in the world, with over $480 million pledged in 2013. For projects outside of the five countries (the U.S., UK, Canada, Australia, and New Zealand) the platform is available in, however, launching a campaign is very difficult. That’s where Melbourne-based Pozible comes in. The site recently launched in Singapore and Malaysia, the first step in its Asia-focused international expansion strategy. Over the last three years, more than 5,000 projects have raised a total of $16 million AUD (about $14.3 million USD) on Pozible, which also offers a low-cost e-commerce platform.
Pozible still faces competition from Kickstarter (if an international team has a member with residency in one of the five countries it is officially available in, it can still submit a campaign), as well as other crowdfunding sites such as Indiegogo, which allows projects from around the world.
But Pozible wants to differentiate with its ‘grassroots engagement’ strategy, as well as being the first global platform to focus on Southeast Asia, co-founder and director Rick Chen told me in an email.
Pozible’s wide-range of funding option, including Bitcoin, is meant to make international contributions easier. It accepts more than 25 currencies.
Chen told me in an email that Pozible, which is open to creators in every country, is “a ‘wide open’ platform, in the sense that as long as the project has a clearly defined creative outcome, we are very happy to accept them.”
The site does have a review process, but it is a quick one, and Chen says the platform is especially popular for film, music and art projects. Pozible takes a 5% cut of the total amount pledged for successful campaigns. It also allows creators to continue using their campaign pages to sell products and takes 5% off a product’s selling price, but does not charge monthly or transactional fees.
The startup is tracking support for projects in more than 105 countries and has “big plans for international growth.”
“As we’ve only opened up access to non-Australian markets recently, our user base is still heavily Australian (more than >60% of traffic), followed closely by U.S., Europe and Asia traffic,” Chen tells me. “We’re working to build up our user base in Asia, and these efforts are already starting to show developments, with an increase in Asian projects and Asian web traffic.”
Pozible offers several funding models, including private crowdfunding, subscription crowdfunding, and self-hosted crowdfunding, which launched earlier this week. Private crowdfunding works is similar to CrowdTilt and is meant for small businesses or groups of friends who don’t want to make their project public. Subscription-based crowdfunding allows people to open monthly subscriptions to their supporters. Pozible’s self-hosted crowdfunding allows project creators who already have large following on their sites to launch their own crowdfunding service.
The platform puts extra effort into building community engagement by holding workshops and programs throughout Australia to familarize people with Pozible. Chen says they plan to duplicate those events in various Asian cities.
Though the site is especially popular among artists and musicians, it has hosted a wide variety of projects ranging from academic research to “Patient 0,” a ‘real-life’ zombie role-player game, which raised $243,480 AUD (about $217,000 USD), the highest amount by a Pozible campaign so far.
“Pozible works very closely with our projects, which is why we have a far higher success rate (56% vs Kickstarter’s 43%),” says Chen. “We constantly host Pozible workshos in the cities we work in; at these workshops, we reach out to specific communities and interest groups and we tailor our approach to make sure they get the education they need in order to optimize their chances of crowdfunding success.”
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