Crowdfunding raised $1.5 billion worldwide last year

Crowdfunding raised $1.5 billion worldwide last year: Almost US$1.5 billion was raised in 2011 by crowdfunding platforms around the world, according to an industry report released Tuesday by Massolution, the research group of industry body Crowdsourcing.

There were almost 350 crowdfunding platforms, or online fundraising platforms that generally accept small donations, at the end of 2011, the report found, up by more than 50 percent from the beginning of the year. The platforms hosted roughly a million campaigns, it said.