Tilt.com

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Tilt .com
Private
Industry Crowdfunding
Founded Texas, United States (February 8, 2012 (2012-02-08))[1]
Founder James Beshara
Khaled Hussein
Headquarters 370 Townsend, San Francisco, California, United States
Area served
 United States
Key people
 James Beshara (CEO)
Services Crowdfunding
Website www.tilt.com

Tilt (formerly Crowdtilt) is a crowdfunding company that allows for groups and communities to collect, fundraise, or pool money online. The company is legally certified in securing fundraisers for non-profit organizations. James Beshara and Khaled Hussein launched under the name Crowdtilt in February 2012 out of Y Combinator. The company was initially based in Texas and is now headquartered in San Francisco, California.[2][3][4][5][6][7][8]

Background

Tilt CEO and co-founder James Beshara, a 2008 graduate of Wake Forest University, developed the concept for the group-funding platform while working as a microloans collection officer in South Africa.[9] Beshara utilized the concept of social collateral to create Dvelo.org, which aimed to provide group-funded loans to micro-insurance organizations.[3][10][11] When Dvelo users began to use the service to fund non-charity related ventures, Beshara shifted the company’s model to concentrate on raising funds for parties, gifts, events, or any other cause that a user proposed.[2][3][9][10][11]

Beshara brought on Khaled Hussein as a co-founder in 2011.[10] Beshara and Hussein rebranded Dvelo as Crowdtilt and were accepted into the winter 2012 session of Y Combinator.[9][11][12][13][14]

Developments

In May 2012 the company closed its first round of funding at $2.1 million.[15][16] Investors included SV Angel, CrunchFund, and Reddit’s Alexis Ohanian.[11][15][16]

In November 2012 the company met federal regulations regarding fundraising for nonprofits.[17] As a result, Crowdtilt fully supports charity fundraising, providing users with tax-deductible donation receipts.[16][17][18][19]

In December 2012 the company released a crowd-funding API that allows startups and third-party developers to integrate Crowdtilt’s functionality into applications.[19][20][21][22]

In April 2013 the company raised $12 million in Series A financing.[5][21][23] The financing was led by the venture capital firm Andreessen Horowitz.[5][21][23] This round of financing brought Crowdtilt’s total funding to approximately $14 million.[21][24]

In December 2013 the company raised $23 million in Series B funding to help the company continue to grow its team and expand internationally.[25][26]

On July 31, 2014, Crowdtilt rebranded as simply Tilt.[27]

On August 28, 2014, Tilt announced that it was dropping fees for groups looking to collect money.[28] It is now free for organizers to collect money with their groups, and free for all contributors using their debit card for payments (a standard 3% processing fee still applies for credit cards). Previously, Tilt charged collect organizers a 2.5% fee on the total money pooled.[29]

Tilt began a collaboration with ESPN Fantasy Football in August 2014 to provide a safe, secure and simple way for league commissioners to collect ESPN fantasy football league dues.[30]

Services

Tilt.com

Tilt’s principal product is a group-funding platform that allows users to contribute to and create campaigns of their choosing.[2][12][13] Every campaign is assigned a tilt point, which defines the minimum amount of funding needed to make the campaign successful.[2][3] Users can contribute as much as they like, and campaign funds are only released if the tilt point is met. A 2012 VentureBeat article reported that, “86% of [Crowdtilt] campaigns are successful, and on average, raise almost twice as much as they need to tilt. Campaigns that reach 34% of their goal have a 99% chance of going all the way, and 38% of activity happens in the last few hours.”[15] It is free for organizers to collect money with their groups, and free for all contributors using their debit card for payments (a standard 3% processing fee still applies for credit cards).

API

In December 2012 the company released an application programming interface (API) which allows third-party integration of the Tilt group payment functionality into any application.[20] The API’s universal payments interface is compatible with multiple payment processors in any currency.[19][20][22][31]

Notable campaigns

The following are a few of the notable campaigns that were successfully funded on Tilt.

In May 2013, Soylent, a food substitute intended to supply all of a human body's daily nutritional needs, used Tilt to bring their nutritional drink to production. The company collected over $2,100,000 from over 20,000 supporters.[32][33]

In May 2013, Several campaigns were created to provide relief for victims of Hurricane Sandy. Crowdtilt waived their service fee for any donations and reported about $180,000 donations towards the hurricane-related projects.[15][17][18][34]

In April 2013, a Tilt campaign successfully raised over $50,000 to replace a boat "Slip Away II" that was damaged during the arrest of Dzhokar Tsarnaev, a suspect in the Boston Marathon bombings. The boat’s owner, David Henneberry, commented that he "doesn't want the money and would rather have it go to a fund for the victims of the Boston Marathon bombing."[5][6][7][8] However, in October 2013 he accepted $50,000 to purchase a used boat he named "Beth Said Yes" (for his wife), and directed that the excess go to One Fund Boston.[35][36]

In early 2014 the Jamaica national bobsleigh team qualified for the 2014 Sochi Olympics but lacked funding to attend the games. An online campaign was set up to raise $80,000 through Tilt.[37] When it closed on January 22, 2014, the campaign had raised $129,687.[38][39]

In January 2014, To celebrate the 20th anniversary of Ice Cube's classic song It Was a Good Day, a campaign was created to get a Goodyear Blimp embossed with Ice Cube’s name. The creators launched a Tilt campaign to collect donations for a charity based in Ice Cube's hometown of Compton, California. The campaign raised over $25,000 for "A Place Called Home" to help at-risk youth, and Goodyear made the blimp fly at an event for Ice Cube, children and community members.[40][41]

In February 2014, Jared Guynes created a Tilt campaign to throw a 700-person Teenage Mutant Ninja Turtles party and invite Vanilla Ice to perform.[42] More than 250 people donated the $35,000 to fund his party at South Side Music Hall in Dallas. The campaign ultimately raised more than $72,000.[43] Jared has since thrown other parties, one featuring Mario Kart, using Tilt campaigns.[44]

In March 2014, Lammily, the fashion doll with realistic proportions, raised over $500,000 on Tilt from over 13,000 supporters.[45]

References

  1. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ 2.0 2.1 2.2 2.3 Lua error in package.lua at line 80: module 'strict' not found.
  3. ↑ 3.0 3.1 3.2 3.3 Lua error in package.lua at line 80: module 'strict' not found.
  4. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  5. ↑ 5.0 5.1 5.2 5.3 Lua error in package.lua at line 80: module 'strict' not found.
  6. ↑ 6.0 6.1 Lua error in package.lua at line 80: module 'strict' not found.
  7. ↑ 7.0 7.1 Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ 8.0 8.1 Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ 9.0 9.1 9.2 Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ 10.0 10.1 10.2 Lua error in package.lua at line 80: module 'strict' not found.
  11. ↑ 11.0 11.1 11.2 11.3 Lua error in package.lua at line 80: module 'strict' not found.
  12. ↑ 12.0 12.1 Lua error in package.lua at line 80: module 'strict' not found.
  13. ↑ 13.0 13.1 Lua error in package.lua at line 80: module 'strict' not found.
  14. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  15. ↑ 15.0 15.1 15.2 15.3 Lua error in package.lua at line 80: module 'strict' not found.
  16. ↑ 16.0 16.1 16.2 Lua error in package.lua at line 80: module 'strict' not found.
  17. ↑ 17.0 17.1 17.2 Lua error in package.lua at line 80: module 'strict' not found.
  18. ↑ 18.0 18.1 Lua error in package.lua at line 80: module 'strict' not found.
  19. ↑ 19.0 19.1 19.2 Lua error in package.lua at line 80: module 'strict' not found.
  20. ↑ 20.0 20.1 20.2 Lua error in package.lua at line 80: module 'strict' not found.
  21. ↑ 21.0 21.1 21.2 21.3 Lua error in package.lua at line 80: module 'strict' not found.
  22. ↑ 22.0 22.1 Lua error in package.lua at line 80: module 'strict' not found.
  23. ↑ 23.0 23.1 Lua error in package.lua at line 80: module 'strict' not found.
  24. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  25. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  26. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  27. ↑ Jen Thorpe for Geek News Central. August 1, 2014 Crowdtilt Gets a New Name and Logo
  28. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  29. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  30. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  31. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  32. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  33. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  34. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  35. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  36. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  37. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  38. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  39. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  40. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  41. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  42. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  43. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  44. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  45. ↑ Lua error in package.lua at line 80: module 'strict' not found.

External links

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