Sometimes it takes a doodle to get an idea started.
Senior Caleb Stultz is preparing to see his own conceptual app idea become reality through the power of crowdfunding. After nearly six months of development and testing, on March 30, Speedoodle will be offered as a freemium app through the Apple App Store.
Speedoodle is based on a multiplayer pencil and paper game Stultz likes to play. Player one creates a 3-second doodle and player two must complete the doodle using a color palate within the app.
The initial concept was mocked up and approved through Sellanapp.com. He then turned to crowdfunding to raise the $7,500 needed for a developer to build the app and get it into the Apple App Store. Individuals around the world pledged nearly $8,300 to make the app a reality.
Crowdfunding is a funding mechanism for those with ideas to connect with those who have money, sometimes just a few dollars and often much more. People around the world make pledges that are secured through an online account and collected when the financial goal is met.
“I had to come up with a financial model that showed people they would get a return in the end,” he said. “I had 48 pledgers and raised a total of $8,259 over a 30-day period.”
As an incentive for pledges, Stultz offered to return 66 percent of the profits to these investors. For those who pledged $500 or more, he offered incentives including special access to a Speedoodle Facebook page.
Eventually he would like to see it developed for Android platforms.
Stultz is currently studying elementary education at Corban University. While he has no plans to give up his primary goal to become a teacher, he hopes Speedoodle will become a financial success.
“I would love it to help pay for school,” he said. “It would be great if within the first year we see 100,000 downloads.”
“Even if it doesn’t, this whole process has reaffirmed the power of crowdfunding and how crazy it is that people can come together from all over the world and pledge a small amount of money to make a big project happen,” he added.
Speedoodle on Social Media