Kendall Almerico Comments On Crowdfunding The Purchase Of The Toronto Mayor Crack Video

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Crowdfunding expert Kendall Almerico, CEO of popular crowdfunding website ClickStartMe, commented on the ongoing crowdfunding campaign by Gawker.com to raise $200,000 to buy a video of Toronto Mayor Rob Ford allegedly smoking crack cocaine. Almerico says that although many are criticizing Gawker for using crowdfunding to purchase the alleged video, if any criticism is appropriate it should be saved for those contributing to the campaign, not the media source.

If no market existed for the purchase of a video that supposedly shows the mayor of the fifth largest city in North America smoking crack, then nobody would contribute, and the crowdfunding project would fail.

Crowdfunding expert Kendall Almerico, CEO of popular crowdfunding website ClickStartMe, commented on the ongoing crowdfunding campaign by Gawker.com to raise $200,000 to buy a video of Toronto Mayor Rob Ford allegedly smoking crack cocaine. Almerico says that although many are criticizing Gawker for using crowdfunding to purchase the alleged video, if any criticism is appropriate it should be saved for those contributing to the campaign, not the media source.

"Crowdfunding is simply the free market system at work," says Almerico, the crowdfunding guru. "If no market existed for the purchase of a video that supposedly shows the mayor of the fifth largest city in North America smoking crack, then nobody would contribute, and the crowdfunding project would fail."

Almerico notes that Gawker's crowdfunding project set a goal of $200,000 in order to purchase the video, and that close to that amount has already been raised. "This shows that people want to see this video, and that there is a market for it," Almerico says. "To criticize Gawker for using this method to raise the funds is short-sighted. If they raised advertising rates or subscription fees to raise the money, nobody would even blink."

Almerico notes that most of the criticism of the crowdfunding project is aimed at the concept that the money will be going to a drug dealer or other unsavory character who is selling the video. "As opposed to the fine, upstanding citizens or paparazzi that most tabloids pay off on a daily basis for sensational stories and photos," Almerico says. "This type of journalism, whether you like it or not, is incredibly profitable and popular, and is not going away any time soon."

Almerico notes that crowdfunding is moving into all areas of journalism rapidly. "With newspapers closing and the traditional media world collapsing, the old school media revenue sources are beginning to disappear," Almerico says. "More and more, I am seeing crowdfunding moving into the world of journalism, from crowdfunded online news sites to crowdfunded radio news programs and podcasts."

As for criticism of those donating to the crowdfunding campaign to see the video of the Toronto Mayor allegedly smoking crack, Almerico had this to say, "If people want to help pay for the video to be released, that is their business. Besides, I can assure you there are millions more who be glued to Gawker to watch the video, if it shows what it supposedly shows, than those who contributed to its purchase."

Kendall Almerico is the CEO of ClickStartMe, the crowdfunding site that provides individuals and businesses with an easy-to-use website to raise funds through online crowdfunding. Almerico is available for interviews and speaking engagements.

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