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The Donald is getting into crowdfunding.
The Donald announced Wednesday that he is backing a new crowdfunding service called FundAnything, which is similar to Kickstarter. The major difference is that there are no restrictions on the types of projects one can fund (as long as they're not deemed offensive) and it lets users keep the funds they raised even if they don't meet their target goal. Trump himself will back new projects on the site each week.
In typical Trump fashion, the announcement carried all the hallmarks of a publicity stunt. Trump gathered a crowd together at the Trump Tower (Where else?) on Fifth avenue in New York and proceeded to give out "suitcases filled with cash" to fund three projects featured on FundAnything.
In the leadup to the event, Trump took time away from his Twitter feud with Daily Show host Jon Stewart to tease the launch by emphasizing that he would be giving away money -- out of the goodness of his heart.
I'm giving away money! 11AM Trump Tower. Be there or be left behind!— Donald J. Trump (@realDonaldTrump) May 8, 2013
People do not assume this but more than anything else, I like helping people. Be at Trump Tower at 11 AM today.— Donald J. Trump (@realDonaldTrump) May 8, 2013
Some of the campaigns that received those suitcases of cash certainly seemed deserving enough of a little funding and attention. One recipient in particular was described as a small business that was hurt by Hurricane Sandy last year. But Trump has a way of overshadowing all. If a small business raises $40,000 today on Kickstarter, the story is going to be more about the company than the platform; if a small business is handed $40,000 in a suitcase from Donald Trump, the story is ultimately going to focus more on Trump. Indeed, Trump seems to go out of his way to make sure that people never forget that Trump is involved.
Unlike most of Trump's investments, FundAnything doesn't actually bear his name, but it makes up for that by featuring his smiling face across the top of the page with a quote in bold letters underneath reminding users that he, Donald Trump, is giving away money. Not just money, actually, but MONEY in all capital letters.
In prepared remarks for the website's launch, Trump all but billed the effort as a Donald Trump charity service. "People's lives have been destroyed by this economy and they feel hopeless," Trump said. "I'm taking a stand, and am putting my money where my mouth is to help get people back on their feet."
Even the language on the website seems to bill the service as more of a lottery for anyone in need of money rather than a crowdfunding platform for people with ideas. At the top of the page, you'll see an option to "Create a Campaign & Win," which seems to imply that the real goal isn't just to raise funds from peers as on traditional crowdfunding services, but rather to be fortunate enough to have Trump pick your project out of the crowd and fund it himself.
Danae Ringelmann, co-founder of Indiegogo, another crowdfunding service, suggests that a service like FundAnything-- which has someone curating successful projects -- doesn't really qualify as "classic crowdfunding" so much as more of a "media publishing model." Nonetheless, she believes that Trump's decision to get into crowdfunding is ultimately a good thing for the industry.
"What's actually great is that a person of such clout and notoriety is validating the space," Ringelmann told Mashable. "I think that will add a new twist to things."
What do you think of Donald Trump getting into crowdfunding? Share in the comments.