Building a business via the crowd
There has been an awful lot of publicity about companies tapping into the crowd for ideas or funding. New London based sports company Tribesports is attempting to go a step further however and base the entire operation around its community.
It’s the norm now for sports companies to provide communities for their users to share their sporting achievements with colleagues. Nike+ for instance is hugely popular with the running community. Tribesports wanted to go further though.
Back in August it launched a hugely successful crowdfunding campaign on Kickstarter that saw it exceed it’s funding target by 400%. This funding will allow the company to build its platform, which will allow the community of customers to have a major say in what products are developed, and how they’re developed.
The items will only be available online, so the company hope to undercut prices of rival companies by as much as 40%. Whilst having the crowd design clothing is not entirely new, with companies such as Threadless doing this for a few years now, it is perhaps the first company that has also turned to the crowd for financing their range.
You can find out more about the company via the video below, or check out their website here.