Bloxcar's crowdfunding campaign
Höglund, Zachris (2020)
Höglund, Zachris
2020
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2020052714543
https://urn.fi/URN:NBN:fi:amk-2020052714543
Tiivistelmä
This thesis is commissioned by Bloxcar whose slogan is “the airbnb for cars” which has an online platform for Peer to Peer car sharing in Finland whose crowdfunding campaign wasn't as successful as they had hoped. To say that crowdfunding is gaining popularity can be proven by looking at the statistics. The YTD (year to date) growth of 30.2% in transaction value amounts to 6.1 billion euros with 8.7 million campaigns being launched across different platforms during the year 2019 alone. A projected annual growth rate of 14.3% spanning from 2019 to 2023 will see figures over 10.5 billion euros in transaction value (Statista, 2019). The purpose of this thesis is to conduct a critical analysis of the campaign and compare it with a successful campaign by their competitor Autolevi and distinguish similarities and differences between them. Both companies' crowdfunding is equity based so this thesis will strictly concentrate on said form of crowdfunding. The author approaches this thesis as an inductive case study with extensive use of qualitative data from semi-structured email interviews, previously published academic articles and books as well as the data from both companies' crowdfunding platform. Bloxcars target to raise 1 million € is not achieved. Autolevi’s target of 75,000 € is achieved with 338% over the target. Four main reasons for the significant difference in capital gain between campaigns are established in this thesis.