High school friend pressured into donating to crowdfunding campaign

TEMPE, Ariz. - July 16, 2015 - PRLog -- When asked to contribute to a crowdfunding campaign, many people are willing to pitch in a few dollars, or in some cases several hundred, to help finance a promising new product, service, or arts-based project. Matthew Schroeder, a Pennsylvania man, was recently peer-pressured into supporting an Arizona craft brewing outfit, despite the geographic divide.

"I've been a big craft beer fan for several years" Schroeder said. "When I heard that one of my friends from high school was planning to launch a new craft brewery in Arizona, I wanted to do everything I could to help out, especially after being pestered repeatedly for support [on social media]."

Schroeder contributed over one hundred dollars toward Rusty Bus Brewing Company's campaign, which was about two percent of the venture's total fundraising goal.

Crowdfunding is rapidly becoming a viable way for new ventures to raise financial contributions from a large number of people, typically via the internet. According to a leading research firm, global crowdfunding rates grew significantly in 2014, expanding by 167 percent to reach $16.2 billion raised, up from $6.1 billion in 2013. In 2015, thanks to contributors like Schroeder, the crowdfunding industry is on pace to more than double again, on its way to raising $34.4 billion worldwide.

Similarly, the American Brewers Association recently reported that for the first-time ever, craft brewers reached double-digit (11 percent) volume share of the U.S. beer marketplace and a 22 percent increase in retail dollar value. Indeed, high school friends like Schroeder seem to be driving the rapid growth rates in both the crowdfunding and craft brewing industries. In Arizona, 53 craft breweries began or continued operation in 2014, which is the 19th highest number of breweries per state, based on a nation-wide ranking. Schroeder aims to see that number grow, despite being stuck in the rust belt.

"Not only did I want to help my buddy launch a new venture, but I appreciate the inventive recipes that all craft brewers seem to creating these days" Schroeder added. “I’d like to see more local guys get in on the action to compete with the bigger brands on the store shelves.”

Robert Dewar, the brewer behind the Rusty Bus crowdfunding campaign, said he was thrilled with Schroeder's $100 contribution. "I have over eight years of brewing experience, but without crowdfunding, I would have never been able to gain the support of distant patrons like Matt before opening the doors" he said. "I just hope that he’s able to catch a flight out here to attend our grand opening. Either way, I'll have a VIP seat reserved for him."