The Impact of Updates in Social Crowd Projects: Insights from a German Equity Crowdfunding Platform

Abstract

This paper analyzes changes in funding processes over time during equity crowdfunding projects. The study used real data from the biggest German equity crowdfunding platform, which specializes in funding businesses. The results of the study showed that updates increase not only the number of investments but also the invested amount. Therefore, updates in social crowd projects can have a positive effect on the success of an equity crowdfunding project.