Bring the Noize: Syndicate and Role-Identity Co-Creation During Crowdfunding

This study reports the first multi-year, longitudinal crowdfunding case study. We use multiple data sources to explore micro-processes before, during, and after a crowdfunding campaign. We focus on the entrepreneur's experience to generate micro- and meso-level theories about a crowdfunding process. A crowdfunding campaign is more than the sum of platform and site characteristics. Entrepreneurial behavior, informed by role-identity development, drives campaign outcomes. Role-identity may be fluid as the entrepreneur strives to generate a campaign syndicate. We propose three strategies for syndicate-based identity formation. The results significantly extend knowledge on the crowdfunding process by revealing the unique activities and choices during role-identity adaptation. Entrepreneurs planning crowdfunding campaigns should recognize the importance of role-identity in the formation of a syndicate that will support the campaign. An external website accompanies this article to make the extensive case data transparent and accessible.