众筹的价值与风险

目 录 **章 走进众筹之门 ··················································································1 一、什么是众筹 ·································································································2 二、众筹的分类 ·································································································4 （一）投资性众筹 ··········································································································4 （二）共同体众筹 ··········································································································5 三、众筹的三要素 ···························································································10 （一）发起人 ················································································································10 （二）支持人 ················································································································11 （三）平台 ····················································································································12 四、众筹的价值 ·······························································································12 （一）资金价值 ············································································································12 （二）广告价值 ············································································································13 （三）市场调查价值 ····································································································13 （四）预售价值 ············································································································14 五、众筹的风险 ·······························································································14 （一）逆向选择风险及道德风险 ················································································14 （二）产品风险和后续管理风险 ················································································15 （三）平台风险 ············································································································16 （四）退出风险 ············································································································16 六、众筹与非法吸收公众存款罪 ···································································17 七、为什么各国政府鼓励众筹 ·······································································18 （一）留住人才和技术 ································································································19 （二）促进大众就业 ····································································································19 （三）增加政府税收 ····································································································20 第二章数说众筹 ··························································································21 一、俯瞰全球众筹 ···························································································22 （一）众筹交易金额的区域分布 ················································································23 （二）众筹类型 ············································································································25 （三）项目统计信息 ····································································································26 （四）领域分布 ············································································································27 （五）行业格局 ············································································································28 （六）行业容量 ············································································································29 （七）行业巨头 ············································································································30 二、中国国内众筹 ···························································································31 （一）总体概况 ············································································································31 （二）主流产品众筹平台 ····························································································33 （三）主流互联网私募股权平台 ················································································35 第三章产品众筹 ··························································································39 一、产品众筹简介 ···························································································40 二、产品众筹的要素 ·······················································································40 （一）筹款模式 ············································································································40 （二）目标金额 ············································································································41 （三）筹款时限 ············································································································41 （四）回报内容 ············································································································41 （五）产品交付时间 ····································································································42 （六）文案 ····················································································································42 三、产品众筹的工作原理 ···············································································43 （一）产品众筹从0 到1 的力量在哪 ········································································43 （二）亲友在产品众筹中的助推作用 ········································································44 （三）产品众筹中的大众传播链条 ············································································44 （四）产品众筹中的信任是怎样建立起来的 ····························································45 （五）产品众筹的成人之美效应 ················································································46 四、产品众筹与团购的关系 ···········································································46 （一）二者的相似之处 ································································································46 （二）二者的区别 ········································································································46 五、什么项目适合产品众筹 ···········································································48 （一）项目要具有独特性 ····························································································48 （二）众筹的产品要具有易复制性 ············································································48 （三）众筹产品一定要有极强的可感知性 ································································49 （四）某些众筹物品要具有不可分割性 ····································································49 （五）自带“粉丝”的产品更容易众筹 ····································································49 六、形形色色的产品众筹门户 ·······································································50 （一）综合类产品众筹门户 ························································································50 （二）垂直类产品众筹门户 ························································································51 第四章发起人 产品众筹 ········································································55 一、哪些人会发起 ··························································································56 （一）有点子的人 ········································································································56 （二）电影人、作家、音乐家 ····················································································56 （三）社会企业家 ········································································································56 （四）已经试产成功的企业 ························································································57 （五）已经成熟的企业 ································································································57 二、发起人为什么发起 ···················································································57 （一）众筹可以让个人有能力开始创业 ····································································57 （二）众筹可以帮助发起人进行市场测试 ································································59 （三）众筹可以帮助发起人进行市场营销 ································································60 （四）众筹可以让被传统投资者拒绝的项目获得支持 ············································62 （五）众筹成功有利于从传统渠道获得再融资 ························································64 （六）众筹可以去掉中间环节，直达目标群体 ························································65 （七）众筹可以帮你获得**批基石消费者 ····························································66 （八）产品众筹发起人不需要让渡任何公司的控制权 ············································66 三、发起人的潜在风险 ···················································································67 （一）被抄袭 ················································································································67 （二）后续管理风险 ····································································································71 （三）陷入个人危机 ····································································································73 四、发起人应该怎么做 ···················································································74 （一）选择合适的平台 ································································································74 （二）选择筹款模式 ····································································································76 （三）首先锁定你的3F：family、friend、fans ························································77 （四）将激励机制融入众筹方案 ················································································77 （五）注意保护自己的创意 ························································································79 （六）重视在团队中引入供应链人才 ········································································79 第五章支持人 产品众筹 ········································································81 一、支持人为什么支持 ···················································································82 （一）得到发起人给予的产品或服务，而且更加便宜 ············································82 （二）得到助人圆梦的成就感 ····················································································83 （三）通过支持，可以发现各种新奇的点子 ····························································84 （四）在别人的基础上，还可以进一步联想扩展，衍生出自己的创业创意··········86 （五）可以观察风向标，决定自己未来的创业方向 ················································89 二、支持人的潜在风险 ··················································································90 （一）被欺诈的风险 ····································································································90 （二）产品无法交付 ····································································································92 （三）实际情况与宣传承诺不符的风险 ····································································94 三、支持人应该怎么做 ···················································································96 （一）了解众筹平台的法律本质是居间人 ································································97 （二）了解产品众筹的法律本质是预购合同 ····························································98 （三）独立判断产品能否交付 ··················································································100 （四）关注平台对于支持资金的监控 ······································································102 （五）关注发起人的偿债能力 ··················································································104 第六章股权众筹 ························································································107 一、股权众筹简介 ·························································································108 二、股权众筹的特有属性 ·············································································109 （一）线上属性 ··········································································································109 （二）投资属性 ·········································································································· 110 （三）退出属性 ·········································································································· 110 三、股权众筹、非公开股权融资、私募股权投资基金募集 ·····················110 （一）官方提出哪三个值得辨析的概念 ·································································· 110 （二）何为“股权众筹融资” ···················································································111 （三）何为“通过互联网方式进行的非公开股权融资行为” ······························ 112 （四）何为“通过互联网方式进行的私募股权投资基金募集行为” ·················· 113 （五）国外的股权众筹 ······························································································ 113 四、股权众筹的相关概念厘清 ·····································································114 （一）如何细分“融资”这个概念 ·········································································· 114 （二）股权众筹与IPO 的关系 ················································································· 115 （三）股权众筹可能私募吗 ····················································································· 116 （四）私募股权融资的互联网化的受益人 ······························································ 116 五、合格投资者制度、未来的监管制度创新 ·············································117 （一）合格投资者制度 ······························································································ 117 （二）未来的监管制度创新 ······················································································ 117 六、什么项目适合股权众筹 ·········································································118 （一）有利于现金分红的项目 ·················································································· 119 （二）有利于高价转卖的项目 ·················································································· 119 七、形形色色的股权众筹平台 ·····································································120 （一）综合类股权众筹平台 ······················································································120 （二）垂直类互联网私募平台 ··················································································123 第七章发起人 股权众筹 ······································································125 一、发起人为什么发起 ·················································································126 （一）取得企业需要的长期资金 ··············································································126 （二）把消费者变成所有者，帮助企业销售 ··························································127 （三）把股东变成营销者，可以更好地营销 ··························································129 （四）获得钱以外的多元化的资源 ··········································································131 （五）发起人可以在众筹中套现 ··············································································132 （六）发起人可以更好地获得市场的反馈 ······························································133