33Needs Brings Crowdsourced Funding To Social Startups

The crowdsourced funding craze is picking up steam. Tonight we see the launch of 33needs, a site where socially-minded startups can raise initial seed funding from individual contributors on the Web. It is Kiva meets Kickstarter.

Social startups post their "needs" in terms of how much money they are looking to raise, what problems they are going to solve and how they are going to do it, along with a video to help spread the word virally. People can invest $10, $100, $1,000 or more, and in return instead of getting shares in the company, they get a promised percentage of revenues for a specified period of time like 5 percent of revenues for three years.

Teri Hatcher Teri Polo Tessie Santiago Thalía Thandie Newton