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Website knows the value of crowd funding

Updated: May 7,2015 4:43 PM     english.gov.cn/West China Metropolis Daily

Yan Zichu, a 24-year-old who is studying for his doctorate degree in Tsinghua University, started a website where startup projects can get crowd funding.

The website, called Dreambang.cn, allows users to invite crowd funding for their projects as well as invest in projects they are interested in.

In 2014, Yan took a year off school to start up the business. Then he and his team got 200,000 yuan ($32,700) of startup funding from a manager of a securities company, and set up the website.

The website has more than 20,000 users.

“Our goal for this year is to have 1 million users,” Yan said.

In February, Yan’s team earned 50,000 yuan in commission after helping find investment for a project.

“Currently the website is similar to traditional crowd funding platforms. But most of our profits won’t come from commissions. We want the website to gather business starters. When we have a group of 100,000, even 1 million business starters, our income will be much more than 50,000 yuan,” he said.

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