Research On Competitiveness Of Crowdfunding Website

With the emergence of the kickstarter in 2009, crowdfunding become well-known as it promote private capital formation, ease the financing difficulties of entrepreneurs, and it is good for prosperity of cultural and creative industries. In 20132,the amount of global crowdfunding capital reached $ 5.1 billion,10 times of the number in 2009. The World Bank report forecast that in 2025 it will exceed to $ 96 billion, a substantial growth will be in Asia crowdfunding market. This indicates that crowdfunding is a very promising business model.Academia started to study it from different angles as well. However, the current research mostly concentrated on the crowdfuning participants, that is investors and financiers, but not on the indispensable third party-crowdfunding platforms. In fact as a key actors in crowdfunding, research on crowdfunding platform is very important, and enhancing their competitiveness can promote the development of crowdfunding.Based on the previous studies on the competitiveness of the platform, considering the unique features of crowdfunding platform, combined with expert opinion, a systematic competitiveness evaluation model of crowdfunding platform was built to analysis the competitiveness of crowdfunding platform. Five dimensions-information, services, technology, safety and brand are included in the evaluation model. In the end, two typical crowdfunding platform-Zhongchouwang and Musikid are used as examples to test evaluation model and thus provide suggestions to enhance the crowdfunding platform competitiveness.The results indicated that the competitiveness of Zhongchouwang and Musikid are both on upper middle level, but as an integrated crowdfunding platform, Zhongchouwang is doing better than Musikid, which is a vertical and professional platform on competitiveness.There are both theoretical and practical significance on this study. It not only enriched the platform competition theory, provided a new perspective for following crowdfunding research, and expanded the application of Fuzzy Analytic Hierarchy Process, but also provide a methodological guidance for crowdfunding platforms.