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OSS Funding through Fundable

Posted by Zonk on from the pool-money-for-software dept.

John Pratt writes "FredCK, developer of the popular FCKEditor, recently raised $600 from supporters through Fundable to port his open source HTML editor to Safari. Fundable is a new site that lets groups of people pool money for specific purposes, like software features. Unlike generic donation dropboxes (such as PayPal buttons), if a group's targeted collection isn't reached after 2 or 4 weeks, everyone gets a complete refund." Newsforge has a piece discussing the site as well.

2 of 109 comments (clear)

  1. Public menace? by sharkey · · Score: 5, Funny
    The editor runs over Windows, Mac and Linux operating systems.

    Didn't the guy who wrote SASSER get arrested for running over at least one of the listed OSes?

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    "Outlook not so good." That magic 8-ball knows everything! I'll ask about Exchange Server next.
  2. I think we found that #2! by fitten · · Score: 5, Funny

    The concept, while unique, is quite simple. Anyone who has a product or service to sell, or needs monetary support for a charitable cause, or who wants to organize a group purchase, posts their requirement on Fundable.org. They specify the number of contributors needed and the amount of money required from each. They also specify a deadline by which to raise the needed capital. Fundable.org holds all contributions until the total amount requested is received, or the deadline is reached. If, by the deadline, the amount contributed is less than the required amount, the project is scrapped and the contributors receive a full refund.

    So, all they do is collect money (and earn interest on said money) and watch a date. They don't care that the software is actually delivered and/or works (which is somewhat smart because they collect interest up until the deadline regardless and they aren't responsible for the quality or even the delivery of said product). I think we finally found that #2!

    1. Collect money for someone
    2. Collect interest on said money up until a deadline and either give the money back or give it to the person who set up the fund depending on amount.
    3. Profit!!!