Projects on Chinese crowdfunding sites aren’t really for crowdfunding; they’re all about sales During this year’s record-breaking Singles; Day sales event, Xiaomi posted a project with a one-day limit on ******’s crowdfunding platform. The project goal was set to RMB10 million (US$1.5 million), and backers who put up RMB1,000 (US$156) would receive a new Xiaomi...
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The post Why Chinese crowdfunding sites aren’t really for entrepreneurs appeared first on e27.
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