CROWDFUNDING AS AN ECONOMIC FORM OF FUNDRAISING IN THE INFORMATION AND NETWORK ECONOMY

Abstract

The article examines crowdfunding as a new economic form of fundraising, based on the use of organizational tools of IT technologies and opportunities of social capital. The evolution of the definition of "crowdfunding" and changes in its interpretation from a tool for the accumulation of funds for the implementation of public projects through philanthropy to a tool for collective financing of not only public, but also business projects are revealed. The specifics of the crowdfunding mechanism are specified. The functions of donors, recipients and Internet platforms in the conditions of the information and network economy are characterized. It was found that crowdfunding services make it possible to carry out the approval of projects, to estimate the amount of demand for the proposed product; recipients in a short period of time are able to get sufficiently "cheap" money with which they can start their own business and enter the market with a finished product; donors evaluate such projects and invest in them. It was concluded that the lack of need for the services of a lawyer, regulatory institutes and other intermediaries in the search for investors and clients allows to partially reduce the transaction costs for the donor and the recipient, and accordingly conclude an agreement on more economically favorable terms for them. Types of crowdfunding models are systematized according to various criteria. The proposed author's development of their classification. Common and distinctive features of charity and investment crowdfunding are identified. The advantages and disadvantages of using crowdfunding with non-financial and financial (credit and crowdinvesting) rewards are revealed. The key trends and features of the development of crowdfunding in the conditions of digitalization of the economy at the current stage of social development are determined. It is concluded that in the conditions of the emergence of signs of a new global economic recession, the significant cost of credit resources and growing distrust of state and classical financial institutions, this is a convenient and profitable investment tool for obtaining economic benefits.